Solid News

USDCHF Market Update

8/23/2022 2:00 PM

Against the background of strengthening the American currency, the USD/CHF pair is trading in a corrective trend around 0.9662.

In Switzerland and throughout Europe, reports of a rapidly developing energy crisis have recently come to the fore. According to representatives of the Association of Electricity Companies of the country, in recent weeks, more than 90% of suppliers have decided to increase electricity tariffs next year by an average of 30%. In terms of macroeconomic statistics, according to the data for the second quarter, production in the secondary sector increased by 4.1% compared to last year, and trade in the sector – increased by 9.5%, which is primarily due to higher prices for final products and is more of a negative indicator than a positive one. The positive growth rates of production and trade turnover have been maintained since the 1st quarter of 2021. Industrial turnover in April added 6.9% compared to the previous year, in May – by 9.4%, and in June – by 13.8%. Compared to the same quarter of the previous year, turnover increased by 10.1%.

The influence of the US dollar on the currency pair has recently increased significantly, and in today's trading, the currency has almost reached 109.000 in the USD Index. The US Federal Reserve will continue to issue additional money, trying to increase the dollar's attractiveness for outside investors. As for economic reports, investors expect new home sales data for July today. Analysts expect a continued decline to 575.0K from 590.0K a month earlier, hoping for a slowdown in the negative dynamics after adjusting the mortgage rate to 5.45% from 5.47% earlier.


On the weekly chart of the asset, the price is correcting within a downwards corridor, and technical indicators are preparing for the next reversal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming rising bars in the sell zone.

Resistance levels: 0.9699, 0.9817. | Support levels: 0.9619, 0.9495.



Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742


Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022 SolidECN.com