Anonymous crypto exchange crypto wallets and more no verification Anonymous crypto exchange
Forex analytics and overview

USD/CHF: Expect Further Growth

2024.12.12 16:07

So the Swiss National Bank cut its base deposit rate by 50 basis points today, from 1.00% to 0.50%, surprising the markets, which had expected a 0.25% cut.

The accompanying statement from the Central Bank said that the bank’s management “will continue to closely monitor the situation and, if necessary, adjust monetary policy to ensure that inflation remains within a range consistent with price stability in the medium term.” “The outlook for Switzerland, as for the global economy, is subject to considerable uncertainty,” and the main risk is “developments abroad,” the statement also noted.

At the same time, the SNB’s management did not rule out further policy easing and intervention in foreign exchange trading in order to lower the franc. It is known to be a traditional safe-haven asset and is in demand in such situations of uncertainty.

Having received a negative impulse from the results of the SNB meeting that ended on Thursday, the franc continues to weaken, and the pair continues to grow.

Overall, above the key support levels of 0.8767 (200-period moving average and the lower line of the ascending channel on the daily chart), 0.8745 USD/CHF is trading in the medium-term bull market zone, which makes long positions relevant in the medium term, we noted in our fundamental analysis today and suggested that “after a confirmed breakout of 0.8885, 0.8900, further growth should be expected.”

Our assumption remains valid – we expect further growth. Growth targets are resistance levels of 0.8955, 0.9000, 0.9024 (Fibonacci level of 38.2% correction in the wave of decline from 1.0145 to the minimum of the wave at 0.8330, reached in December 2023, and the upper border of the ascending channel on the daily chart), 0.9075, 0.9100.

In an alternative scenario, the price will fall into the medium-term bearish market zone located below the support levels of 0.8767, 0.8745, which will return the relevance of short positions to the USD/CHF pair.

The first signal here could be a breakout of support levels of 0.8885, 0.8853 (EMA200 on the 15-minute chart).
USDCHF-D



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,946.51 0.80%
ethereum
Ethereum (ETH) $ 3,655.32 0.46%
xrp
XRP (XRP) $ 2.42 1.26%
tether
Tether (USDT) $ 1.00 0.24%
bnb
BNB (BNB) $ 713.66 0.36%
solana
Solana (SOL) $ 215.35 0.21%
dogecoin
Dogecoin (DOGE) $ 0.38431 1.82%
usd-coin
USDC (USDC) $ 1.00 0.17%
cardano
Cardano (ADA) $ 1.10 3.29%
staked-ether
Lido Staked Ether (STETH) $ 3,652.15 0.46%
tron
TRON (TRX) $ 0.262481 1.54%
avalanche-2
Avalanche (AVAX) $ 43.06 2.42%
sui
Sui (SUI) $ 5.21 0.59%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,317.15 0.27%
chainlink
Chainlink (LINK) $ 23.62 1.27%
the-open-network
Toncoin (TON) $ 5.72 0.45%
shiba-inu
Shiba Inu (SHIB) $ 0.000024 0.66%
stellar
Stellar (XLM) $ 0.448645 0.37%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,713.45 0.78%
polkadot
Polkadot (DOT) $ 7.71 1.17%
hedera-hashgraph
Hedera (HBAR) $ 0.303925 1.21%
weth
WETH (WETH) $ 3,653.39 0.43%
bitcoin-cash
Bitcoin Cash (BCH) $ 472.45 0.22%
uniswap
Uniswap (UNI) $ 15.18 0.42%
litecoin
Litecoin (LTC) $ 116.32 4.82%
pepe
Pepe (PEPE) $ 0.000021 1.59%
leo-token
LEO Token (LEO) $ 9.12 0.36%
hyperliquid
Hyperliquid (HYPE) $ 24.14 5.56%
bitget-token
Bitget Token (BGB) $ 5.99 0.77%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,859.39 0.46%
near
NEAR Protocol (NEAR) $ 5.90 2.30%
ethena-usde
Ethena USDe (USDE) $ 0.999826 0.06%
internet-computer
Internet Computer (ICP) $ 12.15 0.12%
usds
USDS (USDS) $ 1.00 0.27%
aptos
Aptos (APT) $ 10.04 1.58%
aave
Aave (AAVE) $ 341.72 1.09%
mantle
Mantle (MNT) $ 1.40 0.62%
bittensor
Bittensor (TAO) $ 561.66 1.15%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.518319 0.48%
crypto-com-chain
Cronos (CRO) $ 0.15901 0.51%
render-token
Render (RENDER) $ 8.29 3.22%
ethereum-classic
Ethereum Classic (ETC) $ 28.31 0.56%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.58 6.97%
vechain
VeChain (VET) $ 0.051066 1.40%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 4.04 6.90%
arbitrum
Arbitrum (ARB) $ 0.923784 4.80%
ethena
Ethena (ENA) $ 1.26 3.57%
mantra-dao
MANTRA (OM) $ 3.91 1.28%
filecoin
Filecoin (FIL) $ 6.10 9.06%
whitebit
WhiteBIT Coin (WBT) $ 25.81 3.31%