In the final trading session of the week, USD/CHF is slightly strengthening and trying to break above the resistance of 0.9640.
The volatility of currency pairs has been low since Friday morning, as investors prefer to stay out of the market until Jerome Powell's speech at the Jackson Hole symposium. Some experts believe that the head of the Fed will confirm the rate increase by 75 basis points, others are confident that the rate will be increased by 50 basis points at the September meeting of the regulator.
Also, a report on personal income / expenses of US citizens will be released today, but it is unlikely that it will be able to influence the dynamics of foreign currency assets.
Technical analysis for USD/CHF
According to the USD/CHF days chart, the Bollinger Bands indicate moderate growth.
The MACD indicator crossed the zero line from the bottom up and moved into the positive area, generating a weak buy signal.
The stochastic oscillator is declining, broke through the 80% level and came out of the overbought area.
At a breakdown above 0.9700, we return to purchases in the direction of 0.9800. We will set the stop loss to 0.9650.
Sales are allowed after the pair is fixed below the support of 0.9594. The target is at 0.9500. The stop loss is placed at 0.9650.