Daily Analysis For USD/CHF 07-04-2023

Daily Analysis For USD/CHF 07-04-2023

USD/CHF Analysis
USD/CHF
Economic Events and Scenario for USD/CHF
Economic Events : -
GMTEventImpactCurrency
00:30(Japan) Overtime Pay YoYLowJPY
00:30(Japan) Household Spending YoYLowJPY
00:30(Japan) Household Spending MoMLowJPY
00:30(Japan) Average Cash Earnings YoYLowJPY
00:50(Japan) Foreign Exchange ReservesLowJPY
01:00(Australia) Good FridayNoneAUD
01:00(Belgium) Good FridayNoneEUR
01:00(Canada) Good FridayNoneCAD
01:00(Ecuador) Good FridayNoneUSD
01:00(El Salvador) Good FridayNoneUSD
01:00(Estonia) Good FridayNoneEUR
01:00(Euro Area) Good FridayNoneEUR
01:00(Finland) Good FridayNoneEUR
01:00(Germany) Good FridayNoneEUR
01:00(Latvia) Good FridayNoneEUR
01:00(Luxembourg) Good FridayNoneEUR
01:00(Malta) Good FridayNoneEUR
01:00(Netherlands) Good FridayNoneEUR
01:00(New Zealand) Good FridayNoneNZD
01:00(Portugal) Good FridayNoneEUR
01:00(Spain) Good FridayNoneEUR
01:00(Switzerland) Good FridayNoneCHF
01:00(United Kingdom) Good FridayNoneGBP
01:00(United States) Good FridayNoneUSD
04:35(Japan) 3-Month Bill AuctionLowJPY
05:30(Netherlands) Household Consumption YoYLowEUR
05:30(Netherlands) Manufacturing Production MoMLowEUR
06:00(Japan) Leading Economic IndexLowJPY
06:00(Japan) Coincident IndexLowJPY
07:00(Lithuania) Balance of TradeLowEUR
07:45(France) ImportsLowEUR
07:45(France) ExportsLowEUR
07:45(France) Current AccountLowEUR
07:45(France) Balance of TradeMediumEUR
08:00(Austria) Industrial Production YoYLowEUR
08:30(France) Foreign Exchange ReservesLowEUR
09:00(China) Foreign Exchange ReservesLowCNY
10:00(Greece) Balance of TradeLowEUR
13:30(United States) Manufacturing PayrollsLowUSD
13:30(United States) Nonfarm Payrolls PrivateHighUSD
13:30(United States) Unemployment RateHighUSD
13:30(United States) Non Farm PayrollsHighUSD
13:30(United States) Participation RateMediumUSD
13:30(United States) Government PayrollsLowUSD
13:30(United States) Average Weekly HoursLowUSD
13:30(United States) Average Hourly Earnings MoMMediumUSD
13:30(United States) Average Hourly Earnings YoYMediumUSD
14:00(United States) Used Car Prices MoMLowUSD
14:00(United States) Used Car Prices YoYLowUSD
20:00(United States) Consumer Credit ChangeLowUSD
Today's Scenario: - The USD/CHF pair is struggling to make significant gains after recovering from the psychological support level at 0.9000, which was the lowest level seen since June 2021. The pair has seen some selling pressure during the early North American session, but is still trading slightly above the mid-0.9000s and is relatively unchanged for the day.
The US Dollar has gained some strength for the second consecutive day and has moved away from a two-month low that was reached on Wednesday. This has provided some support to the USD/CHF pair, although the gains are not very strong, and there is a risk that they may not last long due to concerns about slowing economic growth that may force the Federal Reserve to pause its rate-hiking cycle.
Buy Scenario: - If the USD/CHF pair fails to break above a resistance line that has been in place for nine weeks, located around 0.9080 at the moment. Till we do not advise to buy USD/CHF.
Sell Scenario: - In the event that the pair is likely to continue its downward trend and may test the June 2021 low of approximately 0.8950. Till we do not advise to sell USD/CHF.
Support and Resistance Level: -
SupportResistance
S1 0.9027-R1 0.9066
S2 0.9012-R2 0.9090
S3 0.8988-R3 0.9105

Discussion

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