Daily Analysis For USD/CHF 26-04-2023

Daily Analysis For USD/CHF 26-04-2023

USD/CHF Analysis
USD/CHF
Economic Events and Scenario for USD/CHF
Economic Events : -
GMTEventImpactCurrency
02:30(Australia) RBA Trimmed Mean CPI QoQHighAUD
02:30(Australia) RBA Weighted Median CPI YoYHighAUD
02:30(Australia) RBA Weighted Median CPI QoQHighAUD
02:30(Australia) Inflation Rate QoQMediumAUD
02:30(Australia) Inflation Rate YoYHighAUD
02:30(Australia) RBA Trimmed Mean CPI YoYHighAUD
02:30(Australia) CPIHighAUD
02:30(Australia) Monthly CPI IndicatorHighAUD
04:00(New Zealand) Credit Card Spending YoYLowNZD
04:35(Japan) 2-Year JGB AuctionLowJPY
05:30(Netherlands) Retail Sales YoYLowEUR
06:00(Finland) Unemployment RateLowEUR
07:00(Germany) GfK Consumer ConfidenceHighEUR
07:45(France) Consumer ConfidenceMediumEUR
08:30(Euro Area) ECB Enria SpeechLowEUR
09:00(Austria) Bank Austria Manufacturing PMIHighEUR
09:00(Switzerland) Economic Sentiment IndexLowCHF
09:30(United Kingdom) Labour Productivity QoQLowGBP
09:30(Slovenia) Retail Sales YoYLowEUR
09:30(Slovenia) Retail Sales MoMLowEUR
10:10(Italy) 6-Month BOT AuctionLowEUR
10:20(Euro Area) ECB Jochnick SpeechLowEUR
10:30(Germany) 15-Year Bund AuctionLowEUR
11:00(Luxembourg) Balance of TradeLowEUR
11:00(France) Jobseekers TotalLowEUR
11:00(France) Unemployment Benefit ClaimsMediumEUR
11:00(United Kingdom) CBI Distributive TradesMediumGBP
12:00(United States) MBA 30-Year Mortgage RateMediumUSD
12:00(United States) MBA Mortgage ApplicationsLowUSD
12:00(United States) MBA Mortgage Refinance IndexLowUSD
12:00(United States) MBA Mortgage Market IndexLowUSD
12:00(United States) MBA Purchase IndexLowUSD
13:00(Euro Area) ECB Guindos SpeechHighEUR
13:30(Canada) Manufacturing Sales MoMLowCAD
13:30(United States) Wholesale Inventories MoMMediumUSD
13:30(United States) Retail Inventories Ex Autos MoMMediumUSD
13:30(United States) Goods Trade BalanceHighUSD
13:30(United States) Non Defense Goods Orders Ex AirLowUSD
13:30(United States) Durable Goods Orders MoMHighUSD
13:30(United States) Durable Goods Orders ex Defense MoMHighUSD
13:30(United States) Durable Goods Orders Ex Transp MoMHighUSD
14:45(Euro Area) ECB Tuominen SpeechLowEUR
15:30(United States) EIA Refinery Crude Runs ChangeLowUSD
15:30(United States) EIA Crude Oil Stocks ChangeMediumUSD
15:30(United States) EIA Distillate Stocks ChangeLowUSD
15:30(United States) EIA Heating Oil Stocks ChangeLowUSD
15:30(United States) EIA Gasoline Production ChangeLowUSD
15:30(United States) EIA Crude Oil Imports ChangeLowUSD
15:30(United States) EIA Gasoline Stocks ChangeMediumUSD
15:30(United States) EIA Cushing Crude Oil Stocks ChangeLowUSD
15:30(United States) EIA Distillate Fuel Production ChangeLowUSD
16:30(United States) 2-Year FRN AuctionLowUSD
16:30(United States) 17-Week Bill AuctionLowUSD
17:00(Canada) 30-Year Bond AuctionLowCAD
18:00(United States) 5-Year Note AuctionLowUSD
18:30(Canada) BoC Summary of DeliberationsMediumCAD
Today's Scenario: - The USD/CHF currency pair swiftly rebounded from its slight downturn, having neared the key support level of 0.8900 during the early hours of the Asian trading session. The Swiss Franc exhibited an impressive recovery on Tuesday, following a recent dip to a two-year low of 0.8860. Additionally, the US Dollar Index (DXY) attracted substantial bids, further bolstering the Swiss Franc.
Despite the positive earnings reports from Microsoft and Google, S&P500 futures experienced significant losses on Tuesday, failing to alleviate the negative market sentiment. The First Republic Bank also reported a significant decline in customers’ deposits, forcing the financial institution to rely on higher interest rate borrowing.
Buy Scenario: - The USDCHF pair displayed positive trading results yesterday as it approached the EMA50. However, the EMA50 continues to exert negative pressure on the price. The stochastic indicator lost its positive momentum and is now indicating clear overbought signals. This creates a negative motive, which we anticipate will cause the price to continue its bearish trend and reach its next target at 0.8800. Till we do not advise to buy USD/CHF.
Sell Scenario: - On the other hand, a bearish outlook for the near future. It is worth noting that breaching 0.8970 will stop the negative scenario and may lead the price to initiate a correctional bullish wave on an intraday basis. We expect today's trading range to fall between the support level of 0.8830 and the resistance level of 0.8970. Till we do not advise to sell USD/CHF.
Support and Resistance Level: -
SupportResistance
S1 0.8878-R1 0.8945
S2 0.8836-R2 0.8970
S3 0.8811-R3 0.9011

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