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.
Fundamentals:
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