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USD CHF Technical Analysis - USD CHF Trading: 2024-06-24
USD/CHF Technical Analysis Summary
Below 0.8930
Sell Stop
Above 0.8945
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
USD/CHF Chart Analysis
USD/CHF Technical Analysis
The technical analysis of the USDCHF price chart on 1-hour timeframe shows USDCHF,H1 is retracing down toward the 200-period moving average MA(200) after peaking today following a rebound as the Swiss National Bank cut the rates 25 basis points at its policy meeting last Thursday. We believe the bearish momentum will continue after the price falls below the lower bound of Donchian channel at 0.8930. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.8945. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CHF
Switzerland’s trade surplus rose in May. Will the USDCHF price rebound reverse?
Switzerland’s trade surplus rose unexpectedly in May. The Federal Statistical Office reported Switzerland's trade surplus rose to 5.81 billion Swiss francs in May from 4.34 billion in April when a decline to 3.84 billion was expected. This is bullish for USDCHF price.
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