EUR/USD 1.14612
-0.119%
Gold 4357.30
0.362%
Oil 97.404
0.920%
USD/JPY 157.804
1.177%
GBP/USD 1.33411
-0.124%
GBP/JPY 210.535
1.055%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
September 18th - U.S. factory output unexpectedly declined in August, impacted by rising input costs and a slowdown in equipment production. Data released Friday showed manufacturing output fell 0.3%. A survey of economists had previously indicated a median market expectation of 0.3% growth. Total industrial output, including mining and utilities, was flat. Utility output rose 1.8%, while mining output saw a slight increase. The slowdown in August factory output marks a temporary halt to this years production recovery, which was largely driven by robust capital spending and strong consumer demand. However, producers are facing rising costs of oil and other raw materials, as well as supply chain disruptions caused by the wars in the Middle East and Ukraine. The report also showed that after strong growth in previous months, equipment production fell 0.5%, and defense and aerospace equipment production fell 1.2%. Production of building materials and computer and electronic products also declined.On September 18, the Iraqi Ministry of Transportation announced in a statement that it had returned restricted airspace in the west to civilian authorities, ending restrictions imposed since 2016 for military operations. The ministry stated that all previously reserved areas stretching across western Iraq from north to south have been handed over to agencies responsible for airports and air navigation for civilian use. This move is expected to provide Iraqi aviation authorities with more space to reroute flight routes, ease restrictions on aircraft flights, and improve airspace utilization efficiency.Federal Reserve Governor Bowman will participate in a discussion on stress testing in ten minutes.The U.S. manufacturing capacity utilization rate was 75.7% in August, down from 76% in the previous month.U.S. manufacturing output fell 0.3% month-on-month in August, below the expected 0.30% and the previous reading of 0.20%.

USD/CHF Price Analysis: Bulls Are Optimistic Due to Bullish Pennant Formation, 0.9500 is a Target

Drake Hampton

Apr 18, 2022 09:46

The USD/CHF pair is trading within a narrow range of 0.9411-0.9439 following a stronger rally from the April 14 low of 0.9330. On Easter Monday, the asset is trading flat against a weakening US dollar index (DXY) in early Tokyo.

 

On a four-hour chart, USD/CHF is creating a bullish pennant pattern, which indicates a lack of direction following a strong run to the north and points to more higher if consolidation breaks sharply. In general, a consolidation phase is characterized by the establishment of long positions by market players who did not participate in the first rally or by the placement of bids by investors who choose to enter an auction after a bullish bias develops. The March 16 high of 0.9460 serves as critical horizontal resistance.

 

At 0.9358 and 0.9400, the 20- and 50-period Exponential Moving Averages (EMAs) are advancing, implying additional potential. While the Relative Strength Index (RSI) (14) is established between 60.00 and 80.00, indicating a bullish trend.

 

If the stock overcomes horizontal barrier at 0.9460, bulls will push it towards psychological resistance at 0.9500, followed by the 5 June 2020 high of 0.9650.

 

On the other hand, a decline below the March 28 high of 0.9382 will bring the asset down to its April 14 low of 0.9324. If the latter is breached, the asset will be dragged towards the April 13 low of 0.9287.

USD/CHF Four-Hour Chart

image.png 

Suggestion