During the Asian session, the USD/CHF pair shows ambiguous trading dynamics, consolidating near 0.9180.
At the moment, the positions of the US currency are being corrected upwards against the background of the absence of reports about the development of the crisis in the US banking sector, which, in turn, partially offsets the risks associated with the possibility of easing the monetary policy of the US Federal Reserve in the second half of 2023. The next meeting of the monetary policy regulator will take place on May 2, and at the moment, analysts are inclined to the scenario of keeping the interest rate unchanged at the current level of 5.0%.
The macroeconomic statistics from Switzerland, released on Wednesday, put significant pressure on the position of the franc: the index of economic expectations from the Center for European Economic Research (ZEW) showed a sharp decline in March from –12.3 points to –41.3 points, while analysts expected a decrease only to –18.9 points. In turn, the quarterly report from the Swiss National Bank (SNB) published on Wednesday kept the currency from falling to new local lows. Among other things, the regulator announced a reduction in short-term inflation expectations: the indicator for the next 6–12 months is 2.4%, while in the last quarter, this estimate assumed 3.1%. In the longer term, the agency expects inflationary pressures to drop to 1.5%.
On the daily chart, Bollinger bands are moving in a flat: the price range is narrowing, reflecting the ambiguous nature of trading in the short term. The MACD indicator is growing, keeping a poor buy signal (the histogram is above the signal line). Stochastic shows a more confident growth, which, however, does not find confirmation in the real dynamics of the market.
Resistance levels: 0.9200, 0.9258, 0.9300, 0.9350. | Support levels: 0.9150, 0.9100, 0.9070, 0.9036.