Stay 
Trading Conditions
Products
Tools
USD/CHF has been quite volatile and corrective recently which is heading towards the resistance area of 0.9980 with certain bullish pressure. CHF has been struggling recently with the economic reports, whereas USD has been performing better than expected which leads the bullish pressure to continue with certain squeeze on the upside.
Recently, CHF PPI report has been published with a decrease to 0.1% from the previous value of 0.2% which was expected to increase to 0.3%. The worse economic results did empower USD to gain good momentum over CHF, whereas ahead of the upcoming CHF Trade Balance report, certain volatility may remain in the market.
On the USD side, Retail Sales report has recently been published with an increase to 0.5% from the previous value of 0.2% which was expected to decrease to 0.1% and Core Retail Sales also has increased to 0.6% from the previous value of 0.2% which was expected to be at 0.3%. The positive economic results did provide the needed boost for the currency, whereas CHF was struggling to impress the market sentiment. Today, USD Prelim UoM Consumer Sentiment report is going to be published which is expected to increase to 98.1 from the previous figure of 97.9 and CB Leading Index is expected to decrease to 0.4% from the previous value of 0.5%.
As of the current scenario, ahead of the CHF Trade Balance next week, USD is expected to remain consistent with the gains having better economic results backing it. As USD manages to publish better reports, further gain on the bullish side is expected in this pair.
Now let us look at the technical view. The price is currently residing at the edge of the 0.9980 area from where a daily close above it is expected to inject further bullish momentum in the pair which is more likely as of the current price formation. As the price closes above 0.9980 with a daily close, further bullish momentum with target towards the 1.0050 area is expected. On the other hand, if the price fails to break above 0.9980, certain bearish pressure is expected which will continue the bullish squeeze further in the coming days.
SUPPORT: 0.9850
RESISTANCE: 0.9980, 1.0050
BIAS: BULLISH
MOMENTUM: VOLATILE
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
