British General Elections, meetings of the ECB and SNB will drive markets today.
Tag - chf - swiss franc
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
The Federal Reserve meeting is today at 21:00 MT time. Analysts widely expect the Fed to keep rates on hold at the 1.5%-2% range
The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
Take a look at the technical set-ups of EUR/USD, NZD/USD, USD/CAD, and USD/CHF.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
What will shake markets today
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.
For the past couple of days, USD/CHF has been consolidating below the resistance line that connects the highs of October and November in the 0.9990 area.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
USD/CHF is supported by the 50-day MA at 0.9917. The doji candlestick that formed on the D1 yesterday signals the market uncertainty.