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Instrument: USDCHF.
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 0.90410 with take profit at 0.90503.
Bearish Preference:
A sell position is envisaged if the price trades below 0.89762 with take profit at 0.89663.
Fundamentals:
7:00pm
USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate
7:30pm
USD FOMC Press Conference
Comment:
USD/CHF aptly portrays the pre-Fed anxiety as it makes rounds to 0.9050 heading into Wednesday’s European session. In doing so, the Swiss Franc (CHF) pair dribbles between the 50-DMA and the 100-DMA while paring the weekly gains of late. The impending bear cross on the MACD signals and the market’s cautious mood seems to have recently produced the USD/CHF bulls. Also likely to challenge the upside momentum is a jungle of resistances below 0.9130.
Analysis: SCRUM Team
