USD/CHF Forecast Today 24/12: Rally Continues (Video)

  • The US dollar rallied pretty significantly during the trading session on Monday as traders got back to work and continued the trend of dollar positivity.
  • The 0.89 level underneath continues to offer a significant amount of support for the US dollar against the Swiss franc.
  • So, I think you’ve got a situation where it does make a certain amount of sense that buyers come in and look at these dips as offering cheap US dollars.

If we were to break down below the 0.89 level, then it’s possible that we could go down to the 50 day EMA underneath, looking for more technical support. On the upside, we have the 0.90 level offering a bit of resistance and clearing that opens up the possibility of a move to the 0.9150 level.

Noise is to be Expected Here

In general, this is a market that will continue to be very noisy, but I do think it favors the upside just due to the interest rate differential, if nothing else. Furthermore, you also have to keep in mind that traders will continue to look at this through the prism of the interest rate differential and the fact that Switzerland is so heavily anchored to the European Union while the US economy, of course, is humming along.

The EU economy is very anemic at the moment, and with the Swiss sending 85% of their exports into the EU. This does not bode well, and therefore I think it all ties together for a much higher US dollar before it’s all said and done. Remember, it was just a few sessions back where the Swiss National Bank cut by 50 basis points. That’s a sign of panic. They may end up going negative as far as interest rates are concerned before it’s all said and done. I continue to buy dips.

Ready to trade our daily forex forecast? Here are the best online trading platforms in Switzerland to choose from

 

Related Posts

© Reuters

Forex flows were light into payrolls data, BofA says, highlights positions at risk By Investing.com

Có thể bạn quan tâm Weekly Focus – Bracing for Trump 2.0 AUD/USD Stabilizes After Post-NFP Slide AUD/USD Weekly Forecast: Neutral Bias Amid Subtle Policy Shifts Markets…

Forex Markets React to Speculation on Trump’s Economic Policies

Forex Markets React to Speculation on Trump’s Economic Policies

Có thể bạn quan tâm BTC/USD Signal Today – 18/12: Bitcoin Diverges (Chart) Gov’t measures to boost won draw forex reserve concerns Gold Price Analysis: U.S. Dollar…

EUR/AUD taps out, Wall Street could throw the ASX a lifeline (for now)

EUR/AUD taps out, Wall Street could throw the ASX a lifeline (for now)

Có thể bạn quan tâm Best MetaTrader Brokers for December 2024 EUR/USD Forecast Today 27/12: Faces Resistance (Video) Russian national handled OctaFX global forex operations: ED |…

Dollar softens slightly amid gradual tariff pledge

Dollar softens slightly amid gradual tariff pledge

Có thể bạn quan tâm China tightens crypto trade oversight with new Forex rules British Pound Stabilizes as Retail Sales Edge Up Let’s Focus on the Good…

GBP/USD Forex Signal Today 14/01: Bullish Rebound (graph)

GBP/USD Forex Signal Today 14/01: Bullish Rebound (Chart)

Có thể bạn quan tâm USD/CHF Forex Signal Today 10/01: Drifts Higher (Chart) USD Continues to Shine (Video) Gold Analysis Today 31/12: Eyes Recovery (Chart) After a…

GBP/USD Price Analysis: Sterling Steady Ahead of US Inflation

GBP/USD Price Analysis: Sterling Steady Ahead of US Inflation

Có thể bạn quan tâm Forex Trader Salary in the UK Wall Street Tumbles Amid Expectations of Fewer Rate Cuts Mexican Peso Gains After a Day of…

Leave a Reply

Your email address will not be published. Required fields are marked *