Daily Market Analysis 30|03|2021: USDCHF

Daily Analysis / Online Education

Daily Market Analysis 30|03|2021: USDCHF

Instrument: USDCHF

Technical Analysis

Bullish Preference:  
Buy position is envisaged  if price trades above 0.94322 with take profit at 0.94447.
Bearish Preference: 
Sell position is envisaged if price trades below 0.93987 with take profit at 0.93885.
3:00pm USD CB Consumer Confidence

Comment: The USD buying remained unabated through the first half of the European session and pushed the USD/CHF pair to fresh multi-month tops, a combination of factors assisted the pair to catch some fresh bids on Tuesday and finally broke out of a two-day-old narrow trading band. The upbeat outlook for the US economy remained supportive of the prevalent bullish sentiment around the US dollar.

Analysis: SCRUM Team

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