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February 23, local time on February 23, Russian presidential press secretary Peskov responded to Ukrainian President Zelenskys remarks after the meeting between Russia and the United States. He stressed that the negotiation process between the Russian and American heads of state on the Ukrainian issue should not be hindered in any way, and the two sides should smoothly realize their respective political will. Peskov specifically pointed out that Donetsk and other four places will not conduct any form of transactions or transfers. In 2022, after the outbreak of the Russian-Ukrainian conflict, Luhansk, Donetsk, Zaporizhia, and Kherson joined the Russian Federation through referendums in September of that year. Recently, the United States proposed a so-called "rare earth for aid" mineral cooperation agreement to Ukraine. Ukraine has rich rare earth reserves, of which lithium and titanium are the main components of Ukraines rare earth resources. Although Ukraines key mineral resources are diverse, some of them are already under the control of Russia. On February 20, local time, Ukrainian President Zelensky said that he was ready to reach an agreement with the US President on investment and security issues.According to a Reuters/Ipsos poll on February 23, 58% of Americans said that inflation would be an important factor in their voting in future elections, and 32% approved of Trumps approach to inflation. 55% said that deporting illegal immigrants would be an important factor, and 47% approved of Trumps approach to immigration.SHEINs sales in 2024 increased by 19% to $38 billion; net profit decreased by nearly 40% to $1 billion.Russias Defense Ministry said Russian troops captured Ulakli and Novoderivka in eastern Ukraine.Ukraine said Russia launched 267 drones at Ukraine overnight, 138 of which were shot down.

Extends Recovery Off 100-HMA Towards Critical Resistance at 0.9230 in USD/CHF Price Analysis

Daniel Rogers

Mar 30, 2023 16:02

USD:CHF.png 

 

Following yesterday's retreat, USD/CHF investors are back at the table on Thursday morning as the currency pair's price continues to rise around 0.9200. Consequently, the Swiss currency pair recovers from the 100-Hour Moving Average (HMA) and validates the upwardly sloping RSI (14) line, indicating that the market is not overbought.

 

As a result, USD/CHF investors should see further gains. A confluence of an ascending trend line from last Friday and a three-week-old descending resistance line near 0.9230 appears to be an insurmountable barrier for pair buyers to overcome before regaining control.

 

If USD/CHF buyers are able to maintain control above 0.9230, an advance to 0.9300 and the monthly high near 0.9340 cannot be ruled out. A decisive break above 0.9340, however, would not hesitate to challenge the monthly high near 0.9440.

 

In contrast, the 100-HMA level surrounding 0.9180 restricts the immediate downside of the USD/CHF price, and a breach of this level could drive prices toward a rising support line from March 13, close to 0.9150.

 

Notably, the USD/CHF pair's susceptibility beyond 0.9150 makes it susceptible to testing the monthly low around 0.9070.

 

Overall, the USD/CHF pair is likely to rise further, but confirmation of the uptrend is needed at 0.9230.