Preview Mode

Search Directory
Search Directory
  • Add
    Company
Home
> Forex Brokers
> AG Markets
> USD/CHF building on momentum back above parity mark
Disclaimer

USD/CHF building on momentum back above parity mark

AG Markets

Disclaimer

The USD/CHF pair gained further traction on Friday and built on Thursday's strong up-surge through 100-day SMA hurdle.

The pair held on to its move back above parity mark amid renewed optimism surrounding Trump's economic policies, which many analysts think would accelerate growth and add inflationary pressure to the economy. Trump's announcement on Thursday, to unveil a “phenomenal” tax plan in coming weeks, sparked a broad based US Dollar rally and assisted the pair to break through recent consolidation phase and jump to nearly two-week highs.

Meanwhile, improving investor risk-appetite, as depicted by positive trading sentiment in European equity markets, is further weighing on the Swiss Franc's safe-haven appeal and helping the pair to build on Trump-reflation trade.

Traders on Friday will now look forward to the release of Prelim UoM Consumer Sentiment from the US in order to grab some short-term trading opportunities.

Technical levels to watch

Currently trading around 1.0025 region, immediate upside resistance is pegged at 1.0045 level (Jan. 30 high) above which the pair is likely to aim towards 1.0095 resistance (Jan. 20 high). Meanwhile on the downside, 100-day SMA near 1.00-0.9995 region now becomes immediate support to defend, which if broken could drag the pair towards 0.9975 horizontal zone ahead of 0.9950 support.

AG Markets Review

Source: https://www.ag-markets.com/news/
Disclaimer
Financial and Business News

Follow Us

Looking for a Service?

Looking for a Service?

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: Finance Magnates™ is not an investment advisor, Finance Magnates™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and Finance Magnates™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Finance Magnates™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Finance Magnates is a global B2B provider of multi-asset trading news, research and events with special focus on electronic trading, banking, and investing. Copyright © 2024 "Finance Magnates CY Ltd." All rights reserved.
For more information, read our Terms, Cookies and Privacy Notice Manage Cookies

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}