USDCHF probability of a growth asset remains
USDCHF probability of a growth asset remains, After last week’s correction to the area of 0.9180–0.9160, USD/CHF quotes continue their upward trend against the background of the publication of data on a decrease in unemployment rate in the USA last month by 0.3%.
Last Friday, statistics on the US labor market were released. The dynamics of changes in the number of people employed in the non-agricultural sector disappointed investors and amounted to only 210K instead of the 550K predicted by analysts. However, the markets were able to recover from a short-term correction in the USD, playing back data that recorded a decrease in the unemployment rate in the country.
The indicator was 4.2% with a forecast of 4.5%. According to key indicators, the national economy continues to approach the pre-crisis levels of the beginning of last year, which has a strengthening effect on the US currency.
The long-term trend in USD/CHF is upward with the aim of growth near the November high of 0.9360. The key trend support is located at 0.9089.
The mid-term trend changed to a downward one last week after the breakdown of the key support at 0.9258–0.9247 and the price-fixing below it. Now the target for sales is target zone 2 (0.9147–0.9136). The price of USD/CHF is being adjusted and is trying to test the trend boundary of 0.9280-0.9269. The most optimal entrances to sales transactions are located in the area of 0.9280-0.9247.
Support and resistance
Resistance levels: 0.9360, 0.9434.
Support levels: 0.9119, 0.9089.
Short positions may be opened from the level of
0.9270 with targets at 0.9150 and stop-loss at
Implementation time: 7-10 days.
Long positions can be opened above 0.9305 with
target at 0.9400 and stop-loss at 0.9270.
Entry point 0.9270
Take Profit 0.9150
Stop Loss 0.9305
0.9089, 0.9119, 0.9360, 0.9434
Entry point 0.9310
Take Profit 0.9400
Stop Loss 0.9270
Key levels 0.9089, 0.9119, 0.9360, 0.9434