EUR/USD 1.12567
0.277%
Gold 3328.98
0.698%
Oil 60.566
1.073%
USD/JPY 145.295
-0.432%
GBP/USD 1.33110
0.498%
GBP/JPY 193.410
0.097%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 10, local time, Russian Presidents Press Secretary Peskov said that Russia is actively developing relations with many countries and will continue to do so. Peskov pointed out that it is very difficult to isolate Russia because Russia occupies a very important position in the world. In addition, Peskov also said that Russian President Putin is willing to engage with leaders of any country in the world, and he is willing to interact to the extent that they are ready to cooperate.On May 10, California Governor Gavin Newsom criticized the U.S. federal government in a video posted on social media. He said that the U.S. governments current tariff policy "may cause the United States to lose its position as the worlds largest economy." In the video, he criticized the U.S. governments tariff policy for blocking U.S. imports and directly affecting the daily lives of ordinary people. "In a few months, people will lack school bags and Christmas toys. Tariffs will make American families even worse." Newsom said that as the state with the strongest economic power in the United States, California occupies an important position in the global economy, precisely because California is committed to "reducing trade barriers and providing quality services to American consumers", but the current tariff policy is undermining all of this, leading to rising prices and stagnation at ports.Kremlin: European countries statements have a "confrontational character".May 10th news: On the evening of May 9th local time, a US federal judge ruled that the Trump administration may not continue to advance its large-scale layoffs or major restructuring plans for multiple federal agencies based on an executive order issued in February this year.Ukrainian President Zelensky: We all agree that the conflict in Ukraine must be ended "in a dignified and peaceful manner."

Analysis of the USD/CHF Price: Steady around the 0.9870 Area as Bull's Eye Parity

Alina Haynes

May 07, 2022 10:18

Prior to Wall Street's closing bell, the Swiss franc remains on the defensive throughout the day, unable to recoup from severe weekly losses of 1.45% as of now. At the time of writing, the USD/CHF exchange rate is trading at 0.9877 amid a risk-averse market sentiment.

 

On Friday, US equities anticipate ending the week on a negative note. In the interim, US Treasury rates continue to rise, driven by the 10-year benchmark note, which is currently yielding roughly 3.12 percent, one basis point below yearly highs.

 

The US Dollar Index, a measure of the greenback's value relative to a basket of six other currencies, is currently up 0.04 percent, at 103.589.

 

During Friday's trading session, the USD/CHF opened near 0.9850 in the Asian-Pacific session and moved within a 30-pip range between 0.9850 and 0.9880 due to a lack of trigger as FX traders prepare for the weekend.

USD/CHF Price Prediction: Technical perspective

The USD/CHF is prepared to extend its gains into the following week, while retreating from yearly highs at 0.9890. At 80.33, the Relative Strength Index (RSI) indicates that the pair is well into overbought territory but is still pushing higher, indicating that a further advance may be imminent.

 

In the meanwhile, the 1-hour chart reveals that once the USD/CHF reached 0.9890, the yearly high for 2022 consolidated in the region of 0.9825-90. Notably, the 50, 100, and 200-day simple moving averages (SMAs) remain below the market price, indicating that USD bulls maintain control.

 

If the USD/CHF crosses the range's upper boundary, the 0.9900 level would serve as initial resistance. Once the R1 daily pivot is cleared, the next supply zone would be around 0.9920, followed by the R2 pivot point at parity.

 

In contrast, the initial support for the USD/CHF would be the intersection of the 50-day simple moving average and the daily pivot around 0.9818-20. A breach of the latter would expose the 100-SMA at 0.9802, followed by the intersection of the S1 daily pivot and the 200-SMA in the 0.9740-47 region.

 

image.png 


Suggestion