Dashboard

Solid News

USDCHF Consolidation in Anticipation of New Movement Drivers

2/20/2023 10:54 AM

During the Asian session, the USD/CHF shows ambiguous trading dynamics, holding near the level of 0.9240.

Market activity remains subdued as American markets are closed on Monday for President's Day. The dollar is supported by positive macroeconomic statistics and the "hawkish" rhetoric of the US Federal Reserve, which has no plans to complete the current cycle of raising interest rates. On Thursday, investors will pay attention to the renewed estimate of the dynamics of Q4 2022 gross domestic product (GDP), where forecasts do not imply changes from the previous indicators of 2.9%, and on Friday, January data on new home sales and statistics on personal budgets of households will be published: experts expect that income will increase by 0.6% after rising by 0.2% last month, and expenses will decrease by 0.1% after a negative trend of –0.2% earlier.

The franc is positively affected by statistics from Switzerland, released on Friday: Q4 2022 industrial production rose by 6.1% after 6.0% earlier. The country's authorities will support the price limit for Russian oil products introduced by the G7 and EU members: Ministry of Economy noted that trade, brokerage, and transportation, for example, heating oil from Russia or Russian origin, are now allowed only if the price per barrel does not exceed 45.0 US dollars, and a price limit of 100.0 US dollars per barrel applies to gasoline, diesel, and oil.


On the daily chart, Bollinger bands are growing moderately: the price range is narrowing, reflecting the appearance of ambiguous dynamics in the nearest time intervals. The MACD indicator is growing, keeping a poor buy signal (the histogram is above the signal line), and is trying to consolidate above the zero line. Stochastic reversed downwards at 80 in response to the "bearish" momentum at the end of last week.

Resistance levels: 0.9300, 0.9350, 0.9400, 0.9450. | Support levels: 0.9250, 0.9200, 0.9150, 0.9100.


Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023 SolidECN.com