Instrument: USDCHF
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 0.92930 with take profit at 0.93108
Bearish Preference:
A Sell position is envisaged if the price trades below 0.92550 with take profit at 0.92399
Fundamentals:
4PM USD CB Consumer Confidence
Comment:
The Swiss franc weakened to 0.92 per USD from the 1-year high of 0.916 touched on January 16th, pressured by a dollar rebound as investors continued to gauge the outlook of monetary tightening by the Swiss National Bank and the Federal Reserve. The sharp slowdown in Swiss inflation limited expectations on how much further the SNB would raise its benchmark borrowing cost, thus, weighing down on the local currency.
Analysis: SCRUM team
