OANDA:USDCHF   U.S. Dollar / Swiss Franc
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1
Current trend

US dollar is growing against Swiss franc . The price is at the level of 0.9911 now, support 5/8 Murray is at the level of 0.9887.

The demand on the US currency is due to the positive economy statistics: PMI significantly grew 54.5 points in October. US economy grew in Q3 of 2017. As a result, the possibility of interest rate rise before the end of the year is high, which affects USD positively.

The second positive factor is the possibility of soon tax reformation implementation and decrease the tax for corporations and wealthy Americans. The President is trying to accelerate the economy growth through fiscal policy. Many experts are skeptical about Trump’s proposals and think that in case of implementation of the project the huge debt of the country will be increased.

Today the Durable Goods Order and Housing Prices data will be published, if the indices exceed the expectations, dollar will grow.

Support and resistance

Stochastic is at the level of 98 points and reflects the possibility of correction from the current levels.

The nearest resistance level is around 0.9956.

The support level is at 0.9887.

Trading tips

Short positions can be opened below the nearest support level of 0.9887 with the target at 0.9835 and stop loss around 0.9930.
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