Solid News

USDCHF Ends the Trading Week Flat

12/16/2022 11:50 AM

During the Asian session, the USD/CHF pair is moderately declining, correcting after moderate growth yesterday around 0.9265.

Demand for the US currency increased significantly after the publication of the final minutes of the last meeting of the US Federal Reserve this year, where the regulator raised the interest rate by 50.0 basis points to 4.5%, starting to slow down the pace of monetary tightening. Analysts expect the agency to remain hawkish next year as inflation sits at 7.1%, well above its 2.0% target, and the US economy shows resilience. On Thursday, investors drew attention to disappointing data on the dynamics of retail sales for November, which fell by 0.6% after increasing by 1.3% last month, although experts expected the negative dynamics of –0.1%, while industrial production decreased by 0.2% compared to forecasts of growth by 0.1%.

The Swiss National Bank (SNB) announced its decision to raise interest rates by 50.0 basis points to 1.0%, the highest since the 2008 financial crisis. Officials of the regulator noted that they do not exclude further monetary policy tightening if the economic situation requires it.

On the daily chart, Bollinger Bands are steadily declining: the price range is narrowing, reflecting the ambiguous nature of trading in the short term. MACD is growing, forming a poor buy signal (the histogram is above the signal line). Stochastic is showing similar dynamics, retreating from “20”, which reflected that the US dollar was oversold in the ultra-short term.

Resistance levels: 0.9300, 0.9350, 0.9400, 0.9478. | 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
Call Us
+35 924 928 392

Disclaimer 1: Solid ECN Securities LLC and it affiliates does not accept clients from Turkey, United States, and Europe.
Disclaimer 2: 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.
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 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.
Copyright All Right Reserved 2023