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On January 11, UN Secretary-General Spokesperson Stephane Dujarric said on the 10th local time that the United Nations has noticed reports from both the United States and Russia that US President-elect Trump plans to hold talks with Russian President Vladimir Putin. The United Nations welcomes any dialogue between the United States and Russia after Trump officially takes office as president. US media reported on the same day that Trump is planning to hold talks with Putin to resolve the Ukrainian issue. In response, Russian Presidents Press Secretary Peskov said on the 10th that Russia welcomes Trumps willingness to resolve the issue through dialogue. Although there are no specific arrangements at present, there should be further actions after Trump takes office as president.On January 11, the South Korean government said on the 10th that the country will discuss the minimum age standard for the elderly in the near future to deal with issues related to the aging population. According to media reports, the South Korean government intends to raise the minimum age threshold for the elderly to 70 years old. This proposal was made by the Ministry of Health and Welfare of South Korea and has been reported to Acting President Choi Sang-moo. At present, the minimum age standard for the elderly in South Korea is 65 years old.On January 11, the weather in northern and western Japan near the Sea of Japan has been extremely cold recently, with heavy snowfall in large areas over the past few days. In particular, the snow depth in Suoyu, Aomori Prefecture reached 3.7 meters on the 10th. Due to the snowfall, some sections of Japans highways were closed, and some Shinkansen trains were suspended or delayed.British Chancellor of the Exchequer Reeves: The fiscal rules set in the October budget are "non-negotiable". Global financial markets have undoubtedly changed.On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.

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.

 

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