Technical Analytics Report

USD/CHF: Technical Analysis Report 09 March 2021

USD/CHF: Technical Analysis Report 09 March 2021


The pair continues to grow actively

 Current Trend

 The USD/CHF pair corrects upwards, trading at the level of 0.9360. CHF weakens after the release of labor market data for February. Unemployment rate s. a. for January increased to 3.6% from 3.5%. Experts say it is due to the continuing quarantine restrictions in several regions, which the government intends to soften soon. There is a plan to conduct free tests for all citizens, which will cost the budget $1.08 billion.

 USD Index moves in an upward trend, reaching 92.230. The main growth driver is strong statistics on the labor market and the adoption of a support package of $1.9 trillion. However, there are also negative aspects. Some state leaders complain about the US joining the climate treaty. American President Joe Biden signed a decree according to which the country would increase its commitments to reduce greenhouse gas emissions every 5 years. Yesterday, prosecutors of twelve states filed a lawsuit against Biden, which says that the decree violates the principle of separation of powers and could threaten local budgets with costs of $9.5 trillion.

 Support And Resistance

 Globally, the price confidently forms a wave of corrective growth. Technical indicators give a global buy signal. Alligator indicator’s EMA fluctuations range expands, and the histogram of the AO oscillator forms upward bars.

 Resistance levels: 0.9393, 0.9500.

Support levels: 0.9330, 0.9117.

 Trading Tips

 After growth or consolidation above the local resistance level of 0.9393, buy positions with a target of 0.9500 will be relevant. Stop loss is 0.9300.

 After reversal and decline or consolidation below the local support level of 0.9330, sell positions with the target at 0.9117 are relevant. Stop loss – 0.9400.

 Scenario

 Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 0.9393

Take Profit: 0.9500

Stop Loss: 0.9300

Key Levels: 0.9117, 0.9330, 0.9393, 0.9500

 Alternative scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 0.9330

Take Profit: 0.9117

Stop Loss: 0.9400

Key Levels: 0.9117, 0.9330, 0.9393, 0.9500


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