Overview
The US Dollar is strengthening this week, despite few economic updates and lower Treasury yields, mainly due to market momentum.
Stanley Druckenmiller mentioned in an interview that the market seems to be preparing for a potential Trump victory, reflected in stock movements like DJT.
This could explain the USD’s rise, as it may increase with expected growth and reduced rate cut predictions. However, not all markets align with this perspective, indicating possible market noise.
Today, we have US retail sales and jobless claims data, which could significantly impact the markets. Important events will also occur in November, including the release of October data and the US elections.
USDCHF Technical Analysis – Daily
The daily chart shows USDCHF rising, aiming for resistance at 0.8730, where sellers may enter. If breached, buyers could push for higher levels near 0.89.
USDCHF Technical Analysis – 4 Hour
The 4-hour chart indicates an upward trend line supporting bullish momentum. Buyers are likely to rely on this trend for further gains.
USDCHF Technical Analysis – 1 Hour
The 1-hour chart shows minor support at 0.8640, likely where buyers will attempt to push higher, while sellers will look for a break below to target the trendline.
Upcoming Events
Today, key data on US Retail Sales and Jobless Claims will be released.
