28.09.2018 06:52 AM
Fundamental Analysis of USD/CHF for September 28, 2018

USD/CHF has been quite impulsive with the bullish gains recently which is expected to continue further in the coming days. After the recent rate hike from 2.00% to 2.25%, USD gained momentum against CHF which is expected to sustain further.

USD has been quite positive after the recent rate hike which lead the market bias to switch from bearish to bullish in the process. The Final GDP report published recently met the expectation by remaining unchanged at 4.2% and Durable Goods Orders was also published with an increase to 4.5% from the previous value of -1.2% which was expected to be at 1.9%. Today USD Core PCE Price Index report is going to be published which is expected to decrease to 0.1% from the previous value of 0.2%, Personal Spending expected to decrease to 0.3% from the previous value of 0.4%, Personal Income is expected to increase to 0.4% from the previous value of 0.3% and Chicago PMI is expected to decrease to 62.3 from the previous figure of 63.6. Additionally, Revised UoM Consumer Sentiment is expected to slightly decrease to 100.5 from the previous figure of 100.8.

On the other hand, today CHF KOF Economic Barometer report is expected to slightly decrease to 100.1 from the previous figure of 100.3.

As of the current scenario, USD is quite strong fundamentally though certain indecision is still there in the market having mixed expectations for the upcoming economic reports. Any positive economic result on the USD side is expected to inject further bullish pressure in the pair which is more probable at the current market situation.

Now let us look at the technical view. The price is currently residing above 0.9700 area and dynamic level of 20 EMA with a daily close having Bullish Divergence supporting the upcoming gains in the process. As the price remains above 0.9700 area, the bullish bias is expected to continue further with target towards 0.9850 and later towards 0.9980 area in the coming days.

SUPPORT: 0.9700

RESISTANCE: 0.9850, 0.9980



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