Fundamental Overview
The US Dollar remains strong despite a slowdown, as the market anticipates key economic data and events in early November, including the FOMC decision and US elections. There’s speculation that markets are preparing for a Trump victory, which could boost the USD due to expectations of higher growth and fewer rate cuts, although not all markets seem aligned with this view.
USDCHF Technical Analysis – Daily Timeframe
On the daily chart, USDCHF is gradually rising, targeting resistance at 0.8730, where a trendline is present. Sellers might enter near the trendline to push prices down to 0.8333, while buyers aim for a breakout to reach 0.89 next.
USDCHF Technical Analysis – 4 Hour Timeframe
On the 4-hour chart, there is an upward trendline supporting bullish momentum. Buyers are expected to rely on this trendline for more upside, while sellers will seek a break below to target 0.8550.
USDCHF Technical Analysis – 1 Hour Timeframe
The 1-hour chart shows minor support around 0.8640, which sellers need to break to target 0.8550. Buyers may step in around 0.8640 if a pullback occurs. The red lines indicate the average daily range for today.
Upcoming Catalysts
This week is light on data, with important releases expected later. Thursday will feature the Flash PMIs for Japan and the US, along with US Jobless Claims figures.
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