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Slovak Prime Minister: We aim to reach an agreement with EU partners on stopping Russian gas supplies and sanctions package by Tuesday.July 12, Anthony Saglimbene, chief market strategist at Ameriprise Financial, said that as the US government reaches an agreement with trading partners such as Japan and South Korea in the coming weeks, most investors seem to expect the United States to avoid raising tariffs. "This is the expectation that the market has formed," Saglimbene said. "If we dont get such an outcome, then I think if the White House does implement some aggressive tariff measures, the market volatility in the short term may increase."Ukraine said Russia launched 623 drones and missiles during the night.July 12, according to a report by the Wall Street Journal on the 11th, US President Trump hinted that if Iran seeks to develop nuclear weapons, he will support Israel in launching a new round of strikes against Iran. According to reports, Israeli Prime Minister Netanyahu recently privately informed Trump that if Iran resumes the development of nuclear weapons, Israel will launch further military strikes against Iran. Trump responded that he was inclined to reach a diplomatic settlement with Iran, that is, to reach an agreement on the nuclear issue, but he did not oppose Israels plan. The report also stated that a senior Israeli official revealed that Israel would not necessarily seek explicit approval from the United States on the issue of resuming strikes against Iran. However, considering that the United States seeks to maintain diplomatic ties with Iran, Israel may also face resistance from the United States.Ukrainian President Zelensky: Russia launched 597 drones and 26 missiles in its overnight attack on Ukraine on Saturday.

Extends Recovery Off 100-HMA Towards Critical Resistance at 0.9230 in USD/CHF Price Analysis

Daniel Rogers

Mar 30, 2023 16:02

USD:CHF.png 

 

Following yesterday's retreat, USD/CHF investors are back at the table on Thursday morning as the currency pair's price continues to rise around 0.9200. Consequently, the Swiss currency pair recovers from the 100-Hour Moving Average (HMA) and validates the upwardly sloping RSI (14) line, indicating that the market is not overbought.

 

As a result, USD/CHF investors should see further gains. A confluence of an ascending trend line from last Friday and a three-week-old descending resistance line near 0.9230 appears to be an insurmountable barrier for pair buyers to overcome before regaining control.

 

If USD/CHF buyers are able to maintain control above 0.9230, an advance to 0.9300 and the monthly high near 0.9340 cannot be ruled out. A decisive break above 0.9340, however, would not hesitate to challenge the monthly high near 0.9440.

 

In contrast, the 100-HMA level surrounding 0.9180 restricts the immediate downside of the USD/CHF price, and a breach of this level could drive prices toward a rising support line from March 13, close to 0.9150.

 

Notably, the USD/CHF pair's susceptibility beyond 0.9150 makes it susceptible to testing the monthly low around 0.9070.

 

Overall, the USD/CHF pair is likely to rise further, but confirmation of the uptrend is needed at 0.9230.