Overview
The US Dollar has risen this week, even without economic data or Treasury yields changing, likely due to market momentum.
Stanley Druckenmiller mentioned that the market seems to be banking on a Trump win, as reflected in certain stocks like DJT.
This expected strength of the USD might be due to anticipated growth and fewer expected rate cuts. However, not all markets agree, so it could be simply market noise.
Today, key economic figures like US retail sales and jobless claims will be released, potentially impacting the market. Major events to watch for are in November, particularly the US election and October’s data.
USDCHF Technical Analysis – Daily
On the daily chart, USDCHF is rising, aiming for key resistance around 0.8730, where sellers may engage while buyers hope for a breakout towards 0.89.
USDCHF Technical Analysis – 4 Hour
The 4-hour chart shows a bullish trendline, with buyers likely to rely on it for further gains. Sellers will wait for a drop below it, eyeing 0.8550 as a target.
USDCHF Technical Analysis – 1 Hour
The 1-hour chart indicates minor support around 0.8640. Buyers are expected to defend this level, while sellers aim for another drop towards the trendline.
Key Events Ahead
Today, we await the release of US Retail Sales and Jobless Claims data.
