USDCHF Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 1.37% | 118.2 Pips |  |
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| Week to-date | 0.97% | 83.9 Pips | |
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| November | 1.44% | 124.7 Pips |  |
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Upcoming key events (London Time)
Thu 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
What happened lately
In a notable political development, Donald Trump has been elected as the 47th president of the United States after securing victory over Kamala Harris in the 2024 presidential race. This significant shift in leadership could potentially bring about changes in economic policies given Trump’s distinct economic priorities observed during his previous tenure. Historically, Trump’s administration has been characterized by policies aimed at tax cuts, deregulation, and trade wars, particularly with China. These factors could influence market sentiments and economic outlooks, impacting currency pairs and global markets.
Additionally, there is anticipation surrounding the upcoming Federal Reserve Interest Rate Decision, with a meeting scheduled at 07:00 PM on Thursday. The Federal Funds Rate, a critical monetary policy tool, influences the levels of inflation and overall economic activity in the United States. Any change in the interest rate could have profound ramifications on currency valuations and market stability. A rise in interest rates tends to strengthen the USD due to higher yields, while a reduction could point to economic concerns and subsequently weaken the currency.
On Wednesday, USDCHF witnessed a notable ascent of 1.37%, reaching 0.87599, indicating a pronounced bullish sentiment for the US dollar against the Swiss franc. Various factors might be contributing to this rise, including optimistic market reactions to Trump’s election victory and anticipation of steady or higher interest rates by the Federal Reserve. Essentially, such market movements signal investor confidence in the USD based on potential economic policies and speculation around interest rate decisions.
In conclusion, the surge in USDCHF reflects a robust outlook for the US dollar stemming from political and economic expectations. The election of Trump and the impending Federal Reserve decision collectively influence traders’ sentiments, propelling USD valuations in the forex market. As these dynamics unfold, market participants will closely observe related announcements for future positioning in the USDCHF pair.
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What can we expect from USDCHF today?
USDCHF on Wednesday rose 1.37% to 0.87599. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCHF looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.88157 with break above could target R2 at 0.88716 or figure level area. While towards the downside, we are looking at daily low of 0.86192 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.87733 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.97% over the past few days.
Key levels to watch out:
| R3 | 0.89698 |
| R2 | 0.88716 |
| R1 | 0.88157 |
| Daily Pivot | 0.87175 |
| S1 | 0.86616 |
| S2 | 0.85634 |
| S3 | 0.85075 |
#USDCHF Trending on Twitter
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