USDCHF investors are waiting for the decision of the FOMC

USDCHF investors are waiting for the decision of the FOMC. The US currency shows flat trading dynamics against the Swiss franc during the Asian session on January 26, holding near a two-week high of 0.9175 and waiting for new drivers to move.

Activity on the market remains restrained, as market participants prefer to wait for the publication of today’s minutes of the US Federal Reserve meeting. In January, no changes in monetary policy parameters are expected, but forecasts for the near future will be extremely important. The agency is close to launching an interest rate hike cycle, and the first step on this path could be taken as early as March. In total, four adjustments of the indicator are expected this year and operations to reduce the balance of the US Federal Reserve. Today’s department decision will play a key role in determining the dynamics of the USD/CHF pair.

On Wednesday, traders will also follow the US statistics on new home sales for December. Forecasts suggest a moderate indicator acceleration from the previous 0.744M to 0.760M.

Support and resistance

Bollinger Bands show ambiguous dynamics on the daily chart: the price range narrows, indicating the multidirectional nature of last week’s trading. MACD grows, keeping a relatively strong buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, being located slightly above the middle of its working area.

The current readings of technical indicators do not contradict the further development of corrective growth in the short and/or ultra-short term.

Resistance levels: 0.9200, 0.9220, 0.9250, 0.9276.

Support levels: 0.9157, 0.9125, 0.9100, 0.9073.

USDCHF investors are waiting for the decision of the FOMC

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