chf to usd

Relevance up to 12:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   USD/CHF Challenges The Former High The USD/CHF pair was traded at 0.9533 at the time of writing and it seems determined to resume its growth as long as it stays above the uptrend line. Failing to reach and retest the uptrend line, which represents a downside obstacle, signaled strong buyers. The 0.9502 level represents a downside obstacle as well. As you can see on the H1 chart, the rate reached the 0.9540 former high which represents an upside obstacle. USD/CHF Trading Conclusion Jumping and stabilizing above 0.9540 may signal further growth ahead and could help buyers catch a larger upwards movement. Only dropping below the uptrend line and under the 0.9502 former low may announce a new downside movement and could invalidate the upside scenario. Read more: https://www.instaforex.eu/forex_analysis/289071

USDCHF keeps high ground The US dollar rallied after Powell reaffirmed that the Fed would raise rates as high as needed. A rally above the daily resistance at 0.9640 has flushed out short-term sellers. This could be the start of a bullish continuation after the pair went through a deep retracement of its April extension. As sentiment shifts to a more upbeat tone, a close above 0.9740 could attract momentum buyers and carry the greenback to July’s peak at 0.9870. 0.9570 is the closest support and 0.9500 is the bulls’ second line of defence. XAUUSD struggles for support Gold remains overshadowed by the prospect of higher interest rates. The price has been struggling to find buyers after it hit resistance at the psychological level of 1800, which was also a former demand zone on the daily chart. A short-lived bounce to 1765 met stiff selling pressure, suggesting that the bears have doubled down. 1739 is a support-turned-resistance after its breach left bullion vulnerable to a new round of sell-off. 1705 at the base of a breakout in late July would be the next level to see if there is enough long interest left. US 30 breaks lower Equities tumbled after the US Fed shattered hopes that policymakers might dial back the tightening. The Dow Jones 30 lost its momentum after hitting a four-month high at 34300. An initial drop below 33850 led some leveraged positions to close out. Then the selling intensified after the index lost ground at 32800. 31700 could be the next stop. An oversold RSI may cause a temporary bounce and 32900 has become a fresh supply zone where the bears could be expected to fade the next rebound.

USD/CHF moved higher earlier in the day and briefly pushed above 0.9800 but has pared these gains. The Swiss franc is having trouble finding its footing, as USD/CHF has climbed 350 points in the past two weeks. Switzerland releases inflation and retail sales reports on Thursday. It has been a disappointing week so far. The KOF Economic Barometer declined for a fourth consecutive month in August. The index dropped to 86.5 (vs 90.5 in July), shy of the estimate of 89.0. Much of the August decline was related to weakness in consumer spending and manufacturing. ZEW Economic Expectations remained in deep freeze, with a reading of -56.3 in August (vs -57.2 in July). SNB eyes Swiss inflation Inflation in Switzerland remains much lower than levels in the eurozone or the UK, but the June reading of 3.4% marked its highest level since 1993. Another reading of 3.4% is expected for July. With inflation well above the Swiss National Bank’s target range of 0-2%, the open question is how uncomfortable the SNB is with high inflation. If July inflation is higher than expected, the SNB could respond by tightening policy in order to rein in inflation. In June, the SNB shocked the markets with a 0.75% basis point hike, the first increase in 15 years. Even with the massive hike, the benchmark rate remains in negative territory, at -0.25%. In the US, the ADP employment report showed a sharp decline in August, with a weak reading of 132 thousand (vs 270 thousand in July), well short of the market consensus of 288 thousand. The ADP release is generally not a reliable indicator for the nonfarm employment report, which will be released on Friday. Interestingly, the forecast for the NFP is also a sharp deceleration to 300 thousand, down from 528 thousand. If NFP is weaker than expected, it could raise speculation that the Fed will ease on tightening, which would weigh on the US dollar. Conversely, a strong NFP would allow the Fed to be aggressive, in the knowledge that the labour market is resilient, even if other US data is not as strong. USD/CHF Technical USD/CHF is testing resistance at 0.9720. Next, there is resistance at 0.9760 There is support at 0.9642 and 0.9524 This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Swiss pares losses, CPI next - MarketPulseMarketPulse

USDCHF tests resistance The Swiss franc struggles as the Q2 GDP reading disappoints. The greenback has recouped all losses from its July sell-off and is testing the daily resistance at 0.9880. A combination of profit-taking and fresh selling may limit the upward extension. As the RSI returns to the neutrality area, 0.9740 is the first support and 0.9660 the bulls’ second line of defence. A bullish MA cross on the daily chart shows improved sentiment and may attract more buying in case of a pullback. A bullish breakout would lead to the double top at 1.0050. EURGBP grinds key resistance Sterling finds support as Liz Truss is set to be Britain's next prime minister. As the pair came to July’s high at 0.8680, a bearish RSI divergence suggests a deceleration in the rally. Strong pressure has been building up following the indicator’s repeated overbought signals. 0.8570 is a key support to assess the underlying strength. Its breach would trigger a liquidation towards the origin of a previous breakout at 0.8500. However, a bounce could clear this year’s high at 0.8720, paving the way for a potential bullish run. US 30 struggles for support The Dow Jones 30 slips as the Fed’s hike agenda may find comfort in a robust labour market. A quick bounce came to a halt at 32000 which indicates that the pessimistic mood still prevails. A bounce may only sustain itself if the bulls manage to push through the supply zone around 32000. Otherwise, traders may continue to see rebounds as opportunities to sell into strength. 31100 is the immediate support and its breach could send the index to 30550 near July’s lows, at the risk of putting an end to the summer recovery.

The Swiss franc has started the week in negative territory. In the North American session, USD/CHF is trading at 0.9674, up o.31%. Swiss National Bank to continue tightening The Times They Are a Changin. This is nowhere more apparent than in Switzerland, where the SNB is poised to end the negative rate era on Thursday. The safety of the Swiss franc has allowed the SNB to offer negative rates to investors, who were only too happy to park their funds during times of uncertainty, of which they have been plenty. While the Swissie’s value as a reliable safe haven asset hasn’t changed, what has changed is a world of low inflation, particularly after the Russian invasion of Ukraine. Switzerland’s inflation is running at an annual clip of 3.5%, for which many central bankers would give their right arm. Still, inflation is on the rise and has become enough of an issue for the SNB that in June, it raised rates by 0.50%, bringing the benchmark rate to -0.25%. At the time, inflation was at 3.4%, its highest level since 1993. The rate hike hasn’t lowered inflation, which rose to 3.5% in August. The SNB is expected to strike again, with the markets having fully priced in a 75bp increase at the Thursday meeting, with a possibility of a massive full-point hike. Barring a huge surprise, this marks the end of the negative rate era, and I would expect the Swissie to gain ground if the SNB raises rates by 0.75% or 1.00%. The Federal Reserve meets a day earlier, on September 21st, and is also expected to deliver a 0.75% rate increase, with an outside chance of a 1.00% hike. The US economy has been performing fairly well, allowing the Federal Reserve to continue tightening policy as it grapples with high inflation. USD/CHF Technical USD/CHF is testing resistance at 0.9720. Next, there is resistance at 0.9760 There is support at 0.9642 and 0.9524 This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. SNB expected to deliver 0.75% hike - MarketPulseMarketPulse

In this article: USD/CHF Gold Price UK 100 USDCHF takes breather A regain in risk appetite keeps the US dollar in check. A drop below 0.9960 led intraday buyers to take profit. The price is taking a breather after it broke above the double top at 1.0040, a key resistance on the daily chart. The bullish breakout may have paved the way for an extended rally in the medium-term. The current pullback might be an opportunity for the bulls to stake in. 0.9880 over the 20-day moving average is the first support and the RSI’s oversold condition may attract bids. A close above 1.0030 would resume the uptrend. XAUUSD seeks support Bullions steadies as the US dollar softens across the board. After meeting stiff selling pressure in the supply zone (1730), the precious metal has been struggling to hold onto its recent gains. The trend remains bearish and may bring in more followers to depress the price action. 1615 is a critical level to keep the rebound relevant and its breach would trigger a new round of sell-off to April 2020’s low at 1570. The support-turned-resistance 1670 is the first level to crack then the real challenge would be to lift 1730. UK 100 tests resistance The FTSE 100 inches higher on improved risk sentiment. A break above 6900 prompted some short interests to cover, easing the downward pressure. A series of higher lows would further boost buyers’ confidence and send the index to the daily resistance at 7100 where a breakout could extend the recovery towards 7300. In the meantime, an overbought RSI may cause a limited pullback with 6912 as the closest support. Further down, 6820 is the bulls’ second line of defence to keep the price action afloat. Our comment on today's UK Inflation Print:  

In this article: Possible developments of USD/CHF On the 1H timeframe for the USDCHF pair, we see the final part of the proposed large double zigzag consisting of cycle sub-waves w-x-y. This pattern looks fully completed, that is, the price decline in the cycle wave y, which is the primary standard zigzag, has come to an end. Currently, there is a development of the initial part of a new corrective trend. It is assumed that a standard 3-wave zigzag of the primary degree â’¶-â’·-â’¸ is being constructed. Perhaps the first two sub-waves â’¶-â’· are fully completed, so growth is expected in the direction of the 1.0096 level, in the impulse â’¸, the last leg of which takes the form of an ending diagonal 1-2-3-4-5, as shown in the chart. At that level, wave â’¸ will be at 123.6% of first impulse â’¶. US dollar to Swiss franc - alternative scenario Alternatively, the cycle pattern may take a more complex form, that is, a triple zigzag w-x-y-x-z. Thus, if this option is confirmed, we will see a decrease in the price and the construction of the final sub-wave z. It is possible that the wave z will be at 123.6% of wave y and will complete its pattern near 0.931. And its first part, the primary sub-wave â’¶, may end at a minimum of 0.947. An approximate scheme of possible future movement is shown on the chart.

  USD/CHF Drop Is Over! The USD/CHF pair registered strong growth in the last few days. Now, it was trading at 1.0014. As you can see on the h1 chart, the rate dropped within a down-channel pattern. It has found strong demand on 0.9845 and now it has escaped from the channel formation signaling that the downside movement ended. The downtrend line represented an upside obstacle, passing above it announced strong buyers. The uptrend line stands as a downside obstacle. As long as it stays above it, the USD/CHF pair could resume its growth. USD/CHF Trading Conclusion! Jumping far above the downtrend line was seen as a new buying opportunity. The 0.9973 historical level represented an upside obstacle as well. The price moved sideways right below it trying to attract more buyers. A minor sideways movement above it and above the uptrend line could bring new buying opportunities with a first major target at the 1.0124 higher high. Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299072

USDCHF struggles for support The US dollar plunged after data showed a higher US unemployment rate in October. A break below 1.0000 could prolong the consolidation as the parity level has been acting like a magnet, pulling the price back and forth. With the RSI deeply in the oversold area. Trend followers may see the pullback as an opportunity to stake in. 0.9920 is the first support and 0.9840 a critical level to keep the price afloat. 1.0020 is a fresh resistance and a bounce above 1.0140 could pave the way for a rally to a six-year high at 1.0350. USDCAD breaks critical support The Canadian dollar soared after solid jobs data raised bets for a large-sized rate hike by the BoC. The pair has been struggling to hold onto its gains above October’s lows (1.3500), which was a critical level to keep the rally relevant in the short-term. A previous rally came under pressure in the supply zone around 1.3800, then a fall below 1.3600 revealed that the bears have regained control. A dip below 1.3500 would extend losses towards 1.3400. An oversold RSI may cause a limited rebound with 1.3600 as the first hurdle. GER 40 breaks major ceiling The Dax 40 rallies as mixed US jobs data lift risk appetite across asset classes. The index previously met stiff selling pressure near September’s high around 13450. A combination of profit-taking and fresh selling in this supply zone has weighed on the short-term price action. But the fallback has only shaken out weak hands and the swift recovery with a higher high indicates that the bulls are still in play. The bullish breakout could lift offers to the August high (13950). 13100 is the support should the Dax need some breathing room.

The Swiss Producer and Import Price Index was virtually unchanged in October, slowing down in annual terms to 4.9% against 5.4% a month earlier and against a peak of 5.9% in June. In contrast to its larger eurozone neighbours, the producer and import price index is at the same level as in June. The USA has the same result, while in the Eurozone they rose by 10.5%, Germany by 16%, and the UK by 2%. From this point of view, Switzerland’s inflation is the least problematic among almost developed economies with popular currencies. However, it is noteworthy that members of the Swiss National Bank remain hawkish, warning yesterday of a willingness to intervene further in the market and noting that they continue to write inflation down as a threat. Historically, Switzerland has been characterised by low domestic inflationary pressures for various reasons ranging from capital inflows into the domestic banking system to a chronically substantial trade surplus and a high standard of living. And we can see that the central bank has not abandoned its values. Indirectly, the rhetoric with the monetary watchdogs' concern about inflation pushes the markets to buy the franc in anticipation of further currency interventions and an interest rate hike in the middle of next month.

The Swiss franc continues to gain ground as the US dollar has weakened broadly in the wake of Fed Chair Powell’s comments on Wednesday. In the North American session, USD/CHF is trading at 0.9384, down 0.74% US dollar slides as Powell signals 50-bp hike It may not have been a dovish pivot, but the financial markets saw a green light after Jerome Powell’s comments on Wednesday. Powell’s speech was essentially a rehash of the Fedspeak we’ve been hearing over the past several weeks, but his broad hint that the Fed would ease the December rate hike to 50 basis points (after four straight hikes of 75 bp) gave investors the excuse to buy equities. Read next: There Is A Chance That The RBA Will Again Raise Rates By 25bp| FXMAG.COM Powell said that slowing down at this point “is a good way to balance the risks”, as the Fed Chair is trying to slow the economy while at the same time avoiding a recession. The markets responded by pricing in a 50-bp rate hike at 80%, up sharply from 65% prior to Powell’s remarks. This sent financial markets higher but pushed the US dollar sharply lower, with USD/CHF dropping close to 1% on Wednesday. Powell’s message was balanced, as he reiterated that rates could rise higher than previously anticipated and for a longer period in order to tame inflation. The Fed remains committed to bringing inflation lower, and Powell said  “substantially more evidence” was needed to convince the Fed that inflation was actually declining. The markets, however, chose to go on an equity spree, buoyed by expectations that the Fed has decided to ease the pace of rate hikes. This week’s data continues to raise concerns about the Swiss economy.  The KOF Economic Barometer slowed to 89.5, down from 90.0 and shy of the estimate of 91.3. The ZEW Expectations survey also slowed to -57.5, down from -53.1 and well off the consensus of -41.9. Retail sales for October, released today, were a huge disappointment at -2.5%. This follows a 2.6% gain in September and missed the consensus of 3.3%. The Swiss franc has enjoyed a superb November, as USD/CHF has plunged 5.5%. If this trend continues, we could see the Swiss National Bank express some concern about the rising Swiss franc, which could drag down the key export sector. USD/CHF Technical USD/CHF  is putting pressure on support at 0.9366. The next support level is 0.9277 There is resistance at 0.9482 and 0.9577 This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Swiss franc climbs as US dollar sags - MarketPulseMarketPulse

USDCHF remains under pressure The US dollar jumped over strong wage growth in November. A drop below the recent low of 0.9370 further weighed on sentiment by invalidating the double bottom between August and November. As the latest buyers are forced to bail out, the directional bias remains down. The pair is setting sail for last April’s low of 0.9200. The RSI’s oversold condition led to a bounce which might be capped by strong selling interest. 0.9460 is the first hurdle and the bulls will need to clear 0.9550 before they could press for a recovery. EURGBP struggles for support The higher-beta pound outperforms across the board thanks to improved risk sentiment. The recent rebound came to a halt at 0.8670 and a subsequent fall below the critical floor at 0.8570 indicates that the path of least resistance is down. This is an invalidation of the rally from early September after a two-month long consolidation. As buying interest becomes scarce, the bears may see a rebound as an opportunity to sell into strength. 0.8500 would be the next target should the sell-off regains momentum. US 30 bounces off support The Dow Jones 30 whipsawed as traders took profit post-NFP. The index has been looking to hold onto its recent gains after a rally above August’s high of 34300. A bounce off the previous consolidation range near 33600 and over the 20-day moving average suggests that the uptrend is still intact. The demand zone between 33600 and 33900 is key in keeping the current bullish framework valid. A close above 34700 could trigger a new round of momentum buying and send the price to last April’s high of 35500.

SNB raises rates by 50 bp, Swiss franc rises Major central banks were in the spotlight this week, as the Federal Reserve and the European Central Bank raised rates by 50 basis points at their final meeting of the year. These moves overshadowed a 50 bp rate increase by the Swiss National Bank, where rate moves are unusual – this week’s rate increase, which brought the benchmark rate to 1.0%, was only the third hike this year. The driver behind the rate hike was the all-familiar battle to curb inflation. Switzerland’s inflation rate of 3% pales in comparison to the eurozone (10.0%) or the US (7.1%), but is above the SNB’s target of 0-2%. The SNB has been aggressive, raising rates by 50 bp in June and an oversize 75-bp hike in September. After years of negative rates, the Bank has dramatically changed policy, responding to what it called a “challenging situation” in a press release after the meeting. The SNB also reminded the markets that it was “willing to be active in the foreign exchange market as necessary”.  The Bank has not hesitated in the past to intervene in order to prevent the Swiss franc from climbing too high and damaging the export sector. USD/CHF has declined over 7% since November 1st, and the SNB will be watching to see if the Swiss franc’s appreciation continues. Read next: The Cable Market (GBP/USD) Held Back Bearish Enthusiasm, The ECB President Christine Lagarde Gave Support To The Euro| FXMAG.COM The markets are still digesting the Fed’s hawkish stance at this week’s meeting. Actually, anyone who has been listening to Jerome Powell and FOMC members would see that the Fed reiterated that it would continue to raise rates and that inflation remained far too high. The markets, however, have been marching to their own beat, expecting that a series of soft inflation reports might change the Fed’s tune. There was talk of the Fed winding up its current rate cycle in February, but the rate statement dampened such hopes, stating that the Fed expected “”ongoing increases” in interest rates.” Powell dismissed the recent drop in inflation, saying more evidence was required that the downward trend was sustainable. It seems a given after this hawkish meeting that the terminal rate is likely to rise above 5%, with some forecasts projecting that rates will go as high as 5.6%. USD/CHF Technical USD/CHF is testing resistance at 0.9285. The next resistance line is at 0.9372 There is support at 0.9228 and 0.9144   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Swiss franc reverses slide after SNB hike - MarketPulseMarketPulse

EUR: Becalmed EUR/USD continues to trade in very narrow ranges, with US Treasury yields and USD/CNH probably the main short-term drives in thin summer markets. 1.0850-1.0930 looks to be the short-term range and we do not see a local catalyst for a breakout until tomorrow's release of the flash PMI readings for August. As to tightening expectations, the market only now prices in 20bp of rate hikes by the turn of the year - probably underestimating the chance of a 25bp ECB rate hike in September. The Eurozone data calendar is light today. But amidst the pessimism in the Eurozone we should at least see a better monthly current account surplus reading - somewhere in the EUR10-20bn area. Remember this compares to the huge EUR35bn monthly deficits seen a year ago, when the spike in energy prices sank the euro. Elsewhere, high US rates are keeping under pressure the high beta European currencies of Norway's krone and Sweden's krona. It seems a long time until the krona could possibly derive some support from the next Swedish Riksbank meeting (September 21st) meaning that EUR/SEK probably trades 12.00 in the interim.EUR/USD Rangebound Ahead of Data Releases and Rate Expectations

The CHF is the second-best performing major currency against the USD based on a one-month rolling basis. The recent four weeks of up move of USD/CHF has flashed out bullish exhaustion conditions that advocate the potential continuation of its medium-term impulsive down move. 0.8800/8830 is the key resistance zone to watch on the USD/CHF. In the past four weeks, the Swiss Franc (CHF) is the second best-performing major currency against the USD where the CHF just depreciated by -1.40% with the GBP that has come in the first place (-0.67% against the USD) based on a one-month rolling calculation as of 22 August 2023 at this time of the writing.         Fig 1:  Rolling 1-month performance of USD against major currencies as of 22 August 2023 (Source: TradingView, click to enlarge chart) In the lens of technical analysis, the rally of +269 pips that was seen on the USD/CHF from its 27 July 2023 low of 0.8553 to the recent 21 August 2023 high of 0.8828 is likely to be a corrective rebound within a medium-term downtrend that is still intact since its 8 March 2023 due to the emergence of several bullish exhaustion elements.     Daily bearish candlestick emerged right at descending channel resistance     Fig 2:  USD/CHF medium-term trend as of 22 Aug 2023 (Source: TradingView, click to enlarge chart) Yesterday’s price action of USD/CHF has staged a bearish reaction right at the upper boundary of the medium-term descending channel that coincides with the downward-sloping 50-day moving average with both acting as a confluence of resistance at 0.8830.     Started to evolve into a minor downtrend     Fig 3:  USD/CHF minor short-term trend as of 22 Aug 2023 (Source: TradingView, click to enlarge chart) Since its 21 August 2023 high of 0.8828, the price actions of USD/CHF have started to oscillate into a minor downtrend in a series of “lower highs and lower lows”. Watch the 0.8800 key short-term pivotal resistance a break below 0.8755 near-term support (also the 20-day moving average) exposing the next support at 0.8700 (minor swing lows of 4/10 August 2023) in the first step. On the flip side, a clearance above 0.8800 negates the bearish tone to set sight again on the 0.8830 medium-term resistance.