USD/CHF: levels for trading

USD/CHF: levels for trading

2020-03-12 • Updated

The decline of USD/CHF from February highs to March lows was epic. The pair reached support at 0.9185 (2018 low) and turned up on the W1 (notice that the reversal candlestick at this timeframe still hasn’t been formed) and the D1. The next obstacles on the upside lie in the 0.9400/15 area and at 0.9440 (38.2% Fibonacci). The advance above the latter is needed to open the way up to 0.9515 (50% Fibo).

The United States will release PPI figures at 14:30 MT time. According to the forecast, the data will worsen in comparison with the previous release. If this scenario turns out to be true, USD/CHF will test support at 0.9325/00. The next support is at 0.9245. Higher than expected numbers and confidence in the efficiency of the anti-coronavirus measures are needed to push the USD above the mentioned resistance levels.

Trade ideas for USD/CHF

BUY 0.9455; TP 0.9515; SL 0.9440

SELL 0.9295; TP 0.9245; SL 0.9310

SELL 0.9405; TP 0.9360; SL 0.9420

USDCHFH1.png

LOG IN

Similar

XAUUSD: Will Gold Continue to Rally?
XAUUSD: Will Gold Continue to Rally?

Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.

AUD: Trade Ideas
AUD: Trade Ideas

Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...

NZD: The Week Ahead
NZD: The Week Ahead

Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...

Latest news

XAUUSD: Bears Prepare To Takeover
XAUUSD: Bears Prepare To Takeover

On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera