- USD/CHF rises from a monthly low level, but tries to violate the key resistance of 0.83 on Wednesday.
- Fed minutes emphasize the growing risk of staglation, which prompted traders to price in 45 BPS rate reductions.
- RSI, which change higher tips regarding the weakening of the bear’s pressure; The key support is at 0.8200 and 0.8184.
USD/CHF He stops his progress after the publication of profits that pushed the pair to the highest level of 0.8290 weekly. However, buyers remain responsible, although the pair is close to the opening price at 0.8270.
The edition of the latest Federal Reserve (FED) revealed that officials agreed that high economic uncertainty was enough to adopt a cautious position on the future adaptations of the FED fund rate and admitted that the risk of stagflation increased.
After the announcement of the minutes, the cash markets valued 45 base points (BPS) facilitating by Federal reserve.
USD/CHF price forecast: technical perspectives
USD/CHF remains biased down, despite the registration of the leg, which raised a pair from about two months of minima 0.8184 to the 0.83 mark.
Momentum, measured by a relative strength indicator (RSI), suggests that the pair remains bear, but RSI targeted up can signal that bears are losing couples.
Given the background, the first USD/CHF resistance would be a psychological sign 0.83. After exceeding the next stop, the highest level of May 1 0.8332 would be, followed by a 50-day straight moving average (SMA) at 0.8399. With further strength, the next level of the ceiling would be the top of the month (MTD) of 0.8475.
And vice versa, the further weakness of USD/CHF may exceed the price of the spot to 0.8200 and below the monthly low level 0.8184.
USD/CHF price chart – every day
(This story was corrected on May 28 at 20:29 GMT to say at the first point that USD/CHF rises from a minimum of monthly, not a two -month level)
Swiss price this week
The table below shows the percentage change of Swiss franc (CHF) in relation to the main currencies this week. The Swiss French was the strongest against Japan.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.69% | 0.46% | 1.68% | 0.71% | 1.02% | 0.46% | 0.82% | |
| EUR | -0.69% | -0.22% | 1.01% | 0.02% | 0.33% | -0.22% | 0.11% | |
| GBP | -0.46% | 0.22% | 0.94% | 0.24% | 0.55% | 0.00% | 0.35% | |
| JPy | -1.68% | -1.01% | -0.94% | -0.95% | -0.67% | -1.23% | -0.85% | |
| BOOR | -0.71% | -0.02% | -0.24% | 0.95% | 0.32% | -0.24% | 0.09% | |
| Aud | -1.02% | -0.33% | -0.55% | 0.67% | -0.32% | -0.59% | -0.20% | |
| NZD | -0.46% | 0.22% | 0.00% | 1.23% | 0.24% | 0.59% | 0.35% | |
| CHF | -0.82% | -0.11% | -0.35% | 0.85% | -0.09% | 0.20% | -0.35% |
The heat map shows percentage changes in the main currencies towards each other. The basic currency is collected from the left, and the quote currency is collected from the upper order. For example, if you choose the Swiss Frank on the left column and move along the horizontal line to the American dollar, the percentage shift displayed in the field will represent CHF (Base)/USD (quote).
