EUR/USD 1.15888
-0.378%
Gold 5132.39
-0.156%
Oil 76.554
1.721%
USD/JPY 157.228
0.117%
GBP/USD 1.33066
-0.488%
GBP/JPY 209.225
-0.347%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Israeli military claims it has launched a new round of large-scale attacks in Tehran.The Iranian armed forces stated that they respect Türkiyes sovereignty and denied firing any missiles at its territory.TSMC (TSM.N) responded to concerns that a war with Iran could disrupt the raw material supply chain: it is not expected to have a significant impact at present.On March 5th, sources indicated that the Bank of England is planning to conduct a simulation to assess the potential economic and financial impact of a full-blown artificial intelligence (AI) shock, due to concerns that the technology could lead to the loss of numerous jobs and disrupt a wide range of businesses. The Bank of England will also consider incorporating the assessment into broader bank stress tests to reflect a potential surge in loan defaults by households and businesses and the damage this could cause to banks. The UKs Office for Budget Responsibility calculated this week that AI-driven "technological job replacements" could result in an additional 500,000 job losses, no increase in economic growth, and an additional £9 billion in government borrowing annually. The Bank of England has previously warned of the potential financial consequences of a collapse in AI stock valuations and is closely monitoring the use of AI within the financial industry, but has commented little on the potential risks of a broader economic shock.Sources familiar with the matter revealed that ExxonMobil (XOM.N) plans to ship at least 300,000 barrels of gasoline from the Gulf Coast to Australia to meet its import needs in the country. This will be the companys first such shipment.

Analysis of the USD/CHF Price: Steady around the 0.9870 Area as Bull's Eye Parity

Alina Haynes

May 07, 2022 10:18

Prior to Wall Street's closing bell, the Swiss franc remains on the defensive throughout the day, unable to recoup from severe weekly losses of 1.45% as of now. At the time of writing, the USD/CHF exchange rate is trading at 0.9877 amid a risk-averse market sentiment.

 

On Friday, US equities anticipate ending the week on a negative note. In the interim, US Treasury rates continue to rise, driven by the 10-year benchmark note, which is currently yielding roughly 3.12 percent, one basis point below yearly highs.

 

The US Dollar Index, a measure of the greenback's value relative to a basket of six other currencies, is currently up 0.04 percent, at 103.589.

 

During Friday's trading session, the USD/CHF opened near 0.9850 in the Asian-Pacific session and moved within a 30-pip range between 0.9850 and 0.9880 due to a lack of trigger as FX traders prepare for the weekend.

USD/CHF Price Prediction: Technical perspective

The USD/CHF is prepared to extend its gains into the following week, while retreating from yearly highs at 0.9890. At 80.33, the Relative Strength Index (RSI) indicates that the pair is well into overbought territory but is still pushing higher, indicating that a further advance may be imminent.

 

In the meanwhile, the 1-hour chart reveals that once the USD/CHF reached 0.9890, the yearly high for 2022 consolidated in the region of 0.9825-90. Notably, the 50, 100, and 200-day simple moving averages (SMAs) remain below the market price, indicating that USD bulls maintain control.

 

If the USD/CHF crosses the range's upper boundary, the 0.9900 level would serve as initial resistance. Once the R1 daily pivot is cleared, the next supply zone would be around 0.9920, followed by the R2 pivot point at parity.

 

In contrast, the initial support for the USD/CHF would be the intersection of the 50-day simple moving average and the daily pivot around 0.9818-20. A breach of the latter would expose the 100-SMA at 0.9802, followed by the intersection of the S1 daily pivot and the 200-SMA in the 0.9740-47 region.

 

image.png 


Suggestion