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USD CHF Technical Analysis - USD CHF Trading: 2024-06-11
USD/CHF Technical Analysis Summary
Above 0.8982
Buy Stop
Below 0.8950
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| 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 higher toward the 200-period moving average MA(200) after retreating to three-month low four days ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 0.8982. 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 0.8950. 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
SECO Consumer Climate index for Switzerland improved a bit in May. Will the USDCHF price rebound continue?
The State Secretariat for Economic Affairs (SECO) reported the Consumer Climate index ticked up to -38 in May from -38.1 in April when an improvement to -37 was expected. The expectations subindex steadied at -21.1 from -21.2 in April, and expectations for the financial position improved a bit: to -35.6 from -36.2. However, inflation expectations increased while saving and spending prospects worsened. Improving Swiss consumer confidence is bullish for Swiss franc and bearish for USDCHF pair. However technical setup is bullish for USDCHF.
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