On Friday, global equities rallied, as Asian and European equities closed with gains. In the US, except for the heavy-tech Nasdaq, most indices are trading in the green as market players disregard Fed tightening and Russo-Ukraine tussles.
Overnight, the USD/CHF opened near the session’s lows early in the Asian Pacific session and since then edged higher, towards the daily high at 0.9373. However, once the North American session began, the pair slid and recorded a new daily low at 0.9327, right at the central daily pivot point.The USD/CHF upward bias remains intact. The daily moving averages reside well below the spot price, though almost horizontally, beneath the 0.0.9264 50-DMA.
That said, the USD/CHF might print another leg-up, and its first resistance would be 0.9349. A clear break would expose March 27 and 29 highs area around the 0.9370-80 region, which, once broken, might send the pairs towards March 16 daily high at 0.9460, but first would need to reclaim the 0.9400 mark once broken.
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Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »