During the Asian session, the USD/CHF pair is growing slightly, testing the level of 0.9230 for a breakout.
In the past three days, the US currency has been trying to recover its position after a sharp decline last Tuesday, caused by the speech of the head of the US Federal Reserve, Jerome Powell: analysts were disappointed by his speech, although the official adhered to the "hawkish" rhetoric. In turn, the development of corrective dynamics in favor of the dollar is hindered by not the most confident macroeconomic statistics. On Thursday, data showed an increase in the number of initial jobless claims for the week of February 3 from 183.0K to 196.0K, which was higher than the expected increase to 190.0K.
The focus of investors on Friday will be the publication of the index of consumer confidence from the University of Michigan for February. Also, during the day, a speech by US Federal Reserve representative Christopher Waller is expected, as well as the publication of a monthly report on the state of the US budget as of January: according to forecasts, its deficit will decrease from 85.0B dollars to 63.0B dollars.
Meanwhile, the Swiss National Bank (SNB) recorded losses in 2022 in the amount of 132.0B francs – a record amount in the history of the institution, and yesterday, the country's largest credit institution Credit Suisse Group AG, reported the largest annual loss since the 2008 crisis last year amid a sharp withdrawal of funds by customers, which increased in October after reports of financial insolvency. So, in the fourth quarter, the bank received less than 1.4B francs, and by the end of 2022, the value reached 7.3B francs. According to analysts at Bloomberg, the negative trend will also affect the first quarter's performance.
On the daily chart, Bollinger bands are moving flat: the price range narrows slightly from above, remaining quite spacious for the current market activity level. The MACD indicator is growing, keeping a poor buy signal (the histogram is above the signal line). Stochastic, on the contrary, retains a confident downward direction and so far practically does not react to attempts at corrective growth of the US currency.
It is better to wait for the clarification of signals from technical indicators to open new trading positions.
Resistance levels: 0.9250, 0.9300, 0.9350, 0.9400. | Support levels: 0.9200, 0.9150, 0.9100, 0.9036.