Solid News

USDCHF Market Update

8/24/2022 12:31 PM

The US dollar is showing moderate growth, testing the level of 0.9660 for a breakout. The day before, USD/CHF has already made attempts to consolidate above this level, but by the end of the day session, the "bulls" have lost all their positions, and the dollar retreated to the opening levels.

The reason for the emergence of negative dynamics was the weak macroeconomic statistics from the US. In particular, market participants drew attention to the decline in business activity indices, as well as New Home Sales, which fell by 12.6% in July after falling by 7.1% a month earlier. In addition, investors are in no hurry to open new long positions ahead of the US Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium. The official is expected to intensify "hawkish" rhetoric, but more moderate signals for further tightening of monetary policy are not ruled out.

Today, statistics from the US on the dynamics of Durable Goods Orders will be in the focus of attention. It is assumed that in July the figure will decrease from 2.0% to 0.6%, and the Nondefense Capital Goods Orders excluding Aircraft may slow down from 0.7% to 0.3%.


In the D1 chart, Bollinger Bands are reversing horizontally. The price range expands, freeing a path to new local highs for the "bulls". MACD grows, preserving a stable buy signal (located above the signal line). The indicator is also trying to consolidate above the zero level. Stochastic, having reached its peak values is reversing into a descending plane, signaling in favor of the development of a correctional decline in the ultra-short term.

Resistance levels: 0.9700, 0.9762, 0.9847, 0.9900. | Support levels: 0.9650, 0.9594, 0.9520, 0.9469.





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, CuraƧao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022 SolidECN.com