The USD/CHF pair rose 0.25% on Friday, driven by reduced expectations of Federal Reserve easing following strong December job figures. A 'golden cross' technical signal indicates potential for further upside.
The USD/CHF pair gained 0.25% on Friday, fueled by reduced expectations of Fed eral Reserve easing following strong December job figures. A ' golden cross ' formation in the 50-day and 200-day Simple Moving Average (SMA) signals a potential continuation of the uptrend with targets at 0.9224 and 0.9300. However, key downside risks exist if USD/CHF falls below 0.9200, with critical support levels at 0.9136 and 0.9007.
The Swiss Franc extended its losses for the fourth consecutive day against the US Dollar, following a robust US Nonfarm Payrolls report in December. As a result, investors lowered the probability of further easing by the Federal Reserve, providing a tailwind for the USD/CHF, which traded at 0.9177, up 0.25%.From a daily perspective, the USD/CHF uptrend remains intact, with the pair forming a series of higher highs and higher lows. Additionally, the 50-day SMA crossed above the 200-day SMA, creating a 'golden cross' indicating further upside potential. If USD/CHF breaks above 0.9200, it could pave the way to test the April 2024 peak of 0.9224. On further strength, 0.9250 and subsequently 0.9300 could be reached.Conversely, if sellers push the exchange rate below 0.9200, the initial support would be the January 6 daily low of 0.9136, followed by 0.9100. A breach of the latter would expose the January 6 daily low of 0.9007
USD/CHF FED TECHNICAL ANALYSIS GOLDEN CROSS SWISS FRANC
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