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USD/CHF Technical Analysis - USD/CHF Trading: 2024-03-11
USD/CHF Technical Analysis Summary
Above 0.8787
Buy Stop
Below 0.8730
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Buy |
USD/CHF Chart Analysis
USD/CHF Technical Analysis
The technical analysis of the USDCHF price chart on 4-hour timeframe shows USDCHF,H4 is retracing down to test the 200-period moving average MA(200) after reflecting off the MA(200) in the last trading session of previous week. We believe the bullish movement will resume after the price rises above the upper boundary of Donchian channel at 0.8787. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.8730. After placing the order, the stop loss is to be moved to the next fractal low 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
Swiss foreign currency reserves increase continued in January. Will the USDCHF price sliding continue?
Swiss foreign currency reserves continued rising in February. The Swiss National Bank reported Foreign Exchange Reserves in Switzerland increased to CHF billion 678 in February from 662.4 billion in January. Increasing backing by Swiss National Bank reserves is bullish for Swiss franc and bearish for USDCHF. Earlier data showed Swiss consumer price inflation (CPI) slowed less than expected in February: Federal Statistics Office reported CPI rose 1.2% from a year ago in February, down from 1.3% growth in January but above forecast of 1.1%. Higher than anticipated Swiss consumer prices inflation is also bullish for Swiss franc and bearish for USDCHF. However, the current setup is bullish for the currency pair.
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