Instrument: USDCHF
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 0.91785 with take profit at 0.91996.
Bearish Preference:
A sell position is envisaged if the price trades below 0.91569 price with take profit at 0.91376.
Fundamentals:
CHF: SNB Monetary Policy Assessment 9:30am
CHF: SNB Policy Rate
CHF: SNB Press Conference 10:00am
USD: Unemployment Claims 1:30pm
Comment:
The Swiss National Bank raised its key rate by 50 basis points and warned that further hikes may be necessary, shrugging off risks to the financial sector and to economic growth from the collapse of Credit Suisse last week. The franc rose against the dollar after the SNB’s statement, on expectations that the bank will find it easier than the Federal Reserve to raise rates any further, given the greater concerns about financial stability in the U.S.
Analysis: SCRUM Team
