USD/CHF Maintains Modesty In-Day Profits, Upward Movement Can Happen at 0.9200

Updated:

USD/CHF falls a few pips from the daily high and is selling with moderate in-day profits, at 0.9185 area moving towards Northern American period.

Showing some rebounding under 200 days SMA, USD/CHF pulled some purchases on Wednesday and moved from the monthly low, close to 0.9160 – 0.9155 area visited in a day before.
Contributing Factors
A good rise in requests for the U.S. dollar gave some more boost to the market. Federal Government monitoring view suggests three rate increase in the New Year, serving as a propeller for the currency, that is getting more strength from in-day growth of the American Treasury bond proceeds. Regardless of these upholding agents, upward trends battle to convert this change and encounter decline at the 0.9200.

Therefore, it will be wise to wait for a thorough purchase above the said handle before affirming that USD/CHF has developed a powerful foothold around 0.9160-0.9155 area. This will bring about more profit and propel the spot value close to the 0.9250 zones. Partakers of the market now expect the U.S. economic agenda, during which disclosure of November Goods, Trade Balance, Wholesale Inventories, and Pending Home Sales will be made.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.