- USD/CHF is rising within a range-bound market.
- It has encountered resistance at a cluster of MAs but will probably continue higher.
USD/CHF is rising up within its sideways range. It has reached a cluster of major Moving Averages which are providing firm resistance.
USD/CHF 4-hour Chart
The trend is neither up nor down but rather sideways and so the oscillating character of the market is likely to extend, given the principle that “the trend is your friend.”
The blue Moving Average Convergence Divergence (MACD) momentum indicator line recently crossed above the red signal line, providing a buy signal. MACD is a more reliable indicator within sideways markets.
USD/CHF will probably continue higher. A break above the 0.8480 high would lead to an extension up to a target at about 0.8517 (September 23 and 26 highs) followed by the roof of the range at 0.8539.
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USD/CHF Price Prediction: Unfolding down leg within range
2024-09-27
USD/CHF is trading lower within a range formed since August.
It is in a sideways trend and a decisive breakout would be required to give directionality.
USD/CHF continues trading up and down within a range. It is probably in a sideways trend, which given the principle that “the trend is your friend” is likely to endure.
USD/CHF 4-hour Chart
USD/CHF is currently moving down within the range and it will probably reach at least as far as the 0.8415, the September 25 lows. A particularly bearish move might even fall to the 0.8400 floor. After that it will probably recover and continue the sideways trend.
The Moving Average Convergence Divergence (MACD) momentum indicator is below the signal and the zero lines indicating bearishness.
A decisive break out of the
USD/CHF holds losses after soft US labor market data
2024-09-06
Pair bottomed at a low of 0.8375 and then recovered above 0.8400 but holds daily losses.
US August NFPs came in lower than expected, following this weak labor market data trend.
Investors might bet on a bigger cut in September from the Fed.
On Friday, the USD/CHF fell to a daily low of 0.8375 and then recovered back above 0.8400. The upside, however, is limited as the US reported weak labor market figures.
The US Dollar’s appeal diminished after the release of a lower-than-expected NFP report for August, which showed the creation of 142,000 new jobs, falling short of the 160,000 forecast but surpassing July’s revised figure of 89,000. The Unemployment Rate decreased as anticipated, moving from 4.3% to 4.2%. Additionally, Average Hourly Earnings increased by 3.8%
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