On Tuesday the "bears" USD/CHF have freshly seized the initiative, and the pair is retreating from the local maximum of 0.9965, trying to consolidate below 0.9890.
The main topic of discussion for investors is the global economic slowdown, as evidenced by China's economic slowdown and the recession in the Eurozone. Global Central Banks are tightening monetary policy to fight inflation, which also increases the risks of a global economic slowdown.
Christine Lagarde will speak today at 11:30 GMT and the Durable Goods Orders report is due out in the United States in an hour. Tomorrow, the Swiss National Bank will release its third-quarter report.
USD/CHF Technical analysis
The Bollinger Band indicator remains directed upward.
MACD indicator is growing in the positive area and holds a strong buy signal.
The oscillator stochastic from the bottom up has broken through the 80% level and entered the oversold area.
After breakdown above 0.9930, we return to buy with the next target 1.0050. We put a stop loss at 0.9868.
For selling it is important to take the price below 0.9868. Take profit is at 0.9762. Stop-loss - at 0.9930.
More about USD/CHF trading
If you are interested in USD/CHF analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest USD/CHF forecasts and signals contain support and resistance levels, as well as stop-loss levels.