During the Asian session, the USD/CHF pair is growing slightly, developing the corrective impulse formed last Tuesday, when the asset retreated from the local lows of April 21 and is testing 0.9600 for a breakout in anticipation of new drivers.
Today, investors are focused on statistics from the US on the dynamics of applications for unemployment benefits: forecasts suggest a slight increase in the number of initial applications for the week of July 29 from 256.0K to 259.0K, and the number of secondary applications for the period up to July 22 may increase from 1.359M to 1.370M. Also, during the day, a speech by a member of the US Federal Reserve Open Market Committee, Loretta Meister, is expected, which may speak in favor of further tightening of the regulator's monetary policy, which will increase the likelihood of a rate increase by 75 basis points during its September meeting. Tomorrow, experts expect the publication of the July report on the US labor market, which will become another factor in choosing the vector of monetary policy in the future.
Meanwhile, in the first half of the year, the Swiss National Bank recorded a record loss in its history of 95.2B francs. A significant decrease (–62.4B francs) was observed from April to June, which was catalyzed by the downward dynamics in the stock market and the decline in prices for shares that are in the portfolio of the regulator, the growth of the national currency against the euro and some other competitors after the decision officials to higher interest rates; and a rapid slowdown in global economic growth. The report of the department notes the income from investments in gold at 2.4B francs.
On the daily chart, Bollinger bands gradually reverse into a horizontal plane: the price range is narrowing, reflecting a sharp change in the short/ultra-short term trend. The MACD indicator is growing, keeping a strong buy signal: the histogram is above the signal line. Stochastic grows more confidently. However, it is rapidly approaching its high, indicating that the US dollar may become overbought in the ultra-short term.
Resistance levels: 0.9650, 0.9700, 0.9762, 0.9847. | Support levels: 0.9550, 0.9469, 0.9400, 0.9300.