Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 0.8900 Take Profit 0.9100 Stop Loss 0.8800 Key Levels 0.8550, 0.8720, 0.8900, 0.9100
Alternative scenario Recommendation SELL STOP Entry Point 0.8720 Take Profit 0.8550 Stop Loss 0.8800 Key Levels 0.8550, 0.8720, 0.8900, 0.9100
Current trend
Against stable dynamics of the American currency, the USD/CHF pair is trading within a corrective trend at 0.8821.
The Swiss currency remains one of the few that can resist the growth of the US dollar, helped by statistics showing an improvement in economic activity in the country. According to a report from the Federal Statistical Office, the number of employed citizens in Switzerland reached the historic record of 5.303M, up from 5.100M before the COVID-19 epidemic and 2.9% more than in the first quarter. The increase in employment among the male population was 2.6%, and among the female population – 3.2%. Against this background, the unemployment rate fell sharply, reaching 3.7% in the second quarter compared to 4.1% in the same period a year earlier. On the other hand, industrial output in the secondary sector corrected by –1.3%, which was the first quarter of decline since 2021 but trade increased by 1.7% amid rising product prices.
The US dollar is gradually correcting, trading at 103.200 in the USD Index, just like on Friday: the end of last week was inactive, and there were no key macroeconomic publications. The markets reacted to the decrease in the number of applications for unemployment benefits from 250.0K to 239.0K, which may become another factor in favor of maintaining the interest rate at the upcoming US Federal Reserve meeting, which almost all experts are now sure of.
Support and resistance
On the daily chart, the trading instrument is correcting towards the resistance line of the global downward corridor with the boundaries of 0.8900–0.8450.
Technical indicators gave a signal to buy: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO histogram forms rising bars in the buying zone.
Support levels: 0.8720, 0.8550.
Resistance levels: 0.8900, 0.9100.
Trading tips
Long positions may be opened after a reversal, growth, and consolidation of the price above 0.8900 with the target at 0.9100. Stop loss – 0.8800. Implementation period: 7 days or more.
Short positions may be opened after the price drops and consolidates below 0.8720 with the target at 0.8550. Stop loss – 0.8800.
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.8900 |
| Take Profit | 0.9100 |
| Stop Loss | 0.8800 |
| Key Levels | 0.8550, 0.8720, 0.8900, 0.9100 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.8720 |
| Take Profit | 0.8550 |
| Stop Loss | 0.8800 |
| Key Levels | 0.8550, 0.8720, 0.8900, 0.9100 |
Current trend
Against stable dynamics of the American currency, the USD/CHF pair is trading within a corrective trend at 0.8821.
The Swiss currency remains one of the few that can resist the growth of the US dollar, helped by statistics showing an improvement in economic activity in the country. According to a report from the Federal Statistical Office, the number of employed citizens in Switzerland reached the historic record of 5.303M, up from 5.100M before the COVID-19 epidemic and 2.9% more than in the first quarter. The increase in employment among the male population was 2.6%, and among the female population – 3.2%. Against this background, the unemployment rate fell sharply, reaching 3.7% in the second quarter compared to 4.1% in the same period a year earlier. On the other hand, industrial output in the secondary sector corrected by –1.3%, which was the first quarter of decline since 2021 but trade increased by 1.7% amid rising product prices.
The US dollar is gradually correcting, trading at 103.200 in the USD Index, just like on Friday: the end of last week was inactive, and there were no key macroeconomic publications. The markets reacted to the decrease in the number of applications for unemployment benefits from 250.0K to 239.0K, which may become another factor in favor of maintaining the interest rate at the upcoming US Federal Reserve meeting, which almost all experts are now sure of.
Support and resistance
On the daily chart, the trading instrument is correcting towards the resistance line of the global downward corridor with the boundaries of 0.8900–0.8450.
Technical indicators gave a signal to buy: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO histogram forms rising bars in the buying zone.
Support levels: 0.8720, 0.8550.
Resistance levels: 0.8900, 0.9100.
Trading tips
Long positions may be opened after a reversal, growth, and consolidation of the price above 0.8900 with the target at 0.9100. Stop loss – 0.8800. Implementation period: 7 days or more.
Short positions may be opened after the price drops and consolidates below 0.8720 with the target at 0.8550. Stop loss – 0.8800.
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