|   Technicals


  |   Technicals


FxWirePro -USDCHF daily outlook

The pair trades lower for the third consecutive day and lost more than 150 pips on board-based US dollar selling. Markets eye US CPI data for further direction. The demand for safe-haven assets like the Swiss franc increased due to geopolitical tension between China and Taiwan. USDCHF hits a low of 0.95094 at the time of writing and is currently trading around 0.95135.


According to the CME Fed watch tool, the probability of a 75 bpbs rate hike in Sep rose to 68.50% from 41% a week ago.



Bullish scenario-

The primary level to Watch – is 0.9550. Any convincing surge above confirms intraday bullishness. A jump to 0.9600/0.9650/0.9720/0.9760 is possible.


 Bearish scenario-


Intraday support – 0.9470.  Break below that level will take the pair to 0.9400/0.9360.


Indicators (1-Hour chart)


 Directional movement index – Neutral


 CCI (50) - Neutral


 It is good to sell on rallies around 0.95480-55 with SL around 0.9600 for a TP of 0.9400.


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