- Analytics
- Technical Analysis
USD CHF Technical Analysis - USD CHF Trading: 2023-07-11
USD/CHF Technical Analysis Summary
Below 0.8831
Sell Stop
Above 0.8888
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
USD/CHF Chart Analysis
USD/CHF Technical Analysis
The technical analysis of the USDCHF price chart on daily timeframe shows USDCHF,Daily is retracing down under the 200-period moving average MA(200) which is declining still. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 0.8831. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.8888. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CHF
US Non-Farm Employment Change was lower than expected in June. Will the USDCHF price decline persist?
Switzerland’s economy performed better than euro area economies in Q1, expanding at 0.3% quarterly rate on seasonally adjusted basis. And while it has slowed down as declining readings of Procure’s Manufacturing Purchasing Managers' Index (PMI) showed for first six months of this year, the reading for June came in better than expected as well as higher than the readings for prior months of 2023. The Manufacturing PMI for June rose to 44.9 from 43.2 in May. Reading above 50.0 indicate industry expansion, below indicate contraction. Better Swiss manufacturing performance is bearish for USDCHF. At the same time the US nonfarm payrolls report for June was weaker than expected: the Bureau of Labor Statistics reported the number of new jobs in the United States excluding farm workers was lower in June than the forecast while their number declined. The Federal Reserve has been highlighting the strong US jobs market as an important indicator US economy is strong and further rate hikes are needed to bring down consumer price inflation down to its 2% target rate. A weaker reading for Non-Farm Employment Change makes less likely the resumption of rate hikes at end of July Fed meeting, which is bearish for USD and so for USDCHF too.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.