Solid News

USDCHF Market Analysis

12/5/2022 11:06 AM

During the Asian session, the USD/CHF pair is moderately declining, testing 0.9350 for a breakdown.

The downward dynamics of the American currency returned after an unsuccessful attempt at corrective growth on Friday when investors reacted to the publication of a report on the national labor market for November: the increase in the number of new jobs amounted to 263.0K, much better than experts' expectations of 200.0K. The same indicator for October was revised from 261.0K to 264.0K, while the unemployment rate in November remained at the same level of 3.7%, and the average hourly wage increased from 0.5% to 0.6% MoM, contrary to forecasts of a slowdown to 0.3%, and from 4.9% to 5.1% YoY, ahead of expectations of 4.6%.

The focus of investors on Monday is statistics from the Institute of Supply Management (ISM) on Services PMI for November: current forecasts suggest a moderate increase in the indicator from 54.4 points to 55.6 points. The franc may react to EU retail sales data, which is expected to fall 0.6% after rising 0.4% in October.

On the daily chart, Bollinger bands reverse into a horizontal plane: the price range expands, indicating an increase in the "bearish" sentiment in the short term. The MACD indicator is falling, keeping a relatively strong sell signal (the histogram is below the signal line). Stochastic keeps a confident downward direction but is close to its lows, indicating the risks of the US currency being oversold in the ultra-short term.

Resistance levels: 0.9400, 0.9478, 0.9550, 0.9600. | Support levels: 0.9350, 0.9300, 0.9200, 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