Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Friday’s trade saw USD/CHF within the range of 0.9832-0.9885. The pair closed at 0.9878, gaining 0.35% on a daily basis and 0.43% for the whole week. On Monday (December 29th) the cross may be influenced by the fundamentals listed below.

Fundamentals

Switzerland

UBS Consumption Indicator

At 7:00 GMT the UBS is expected to release data in regard to the performance of its Consumption Indicator in November. During the preceding month the gauge was reported at a level of 1.29, while in September – at 1.39. This is a leading indicator of the private consumption trend, while, on the other hand, consumer spending is a key component of the nations Gross Domestic Product. The gauge is based on five key elements: new car sales, business activity in the retail sector, the number of domestic hotel overnights by Swiss nationals, the consumer sentiment index and credit card transactions via UBS points of sale located in the country. Higher readings of the indicator usually provide support to the Swiss franc.

Pivot Points

According to Binary Tribune’s daily analysis, the central pivot point for the pair is at 0.9865. In case USD/CHF manages to breach the first resistance level at 0.9898, it will probably continue up to test 0.9918. In case the second key resistance is broken, the pair will probably attempt to advance to 0.9951.

If USD/CHF manages to breach the first key support at 0.9845, it will probably continue to slide and test 0.9812. With this second key support broken, the movement to the downside will probably continue to 0.9792.

The mid-Pivot levels for today are as follows: M1 – 0.9802, M2 – 0.9829, M3 – 0.9855, M4 – 0.9882, M5 – 0.9908, M6 – 0.9935.

In weekly terms, the central pivot point is at 0.9853. The three key resistance levels are as follows: R1 – 0.9913, R2 – 0.9948, R3 – 1.0008. The three key support levels are: S1 – 0.9818, S2 – 0.9758, S3 – 0.9723.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: EUR/USD daily trading forecastForex Market: EUR/USD daily trading forecast Yesterday’s trade saw EUR/USD within the range of 1.0808-1.0872. The pair closed at 1.0827, down 0.03% on a daily basis and marking a fourth consecutive trading day of losses. The daily low has also been the lowest level since April 24th 2015, […]
  • EU agrees on reduction of super-potent greenhouse gasesEU agrees on reduction of super-potent greenhouse gases EU members struck a deal on Thursday to reduce usage of super-potent greenhouse gases in fridges and air conditioners, which comes as part of the bloc's broader initiative to slash CO2 emissions.The European Union nations are expected […]
  • Binary Tribune’s Stock Trading Signals for August 22nd 2016Binary Tribune’s Stock Trading Signals for August 22nd 2016 Tesla Motors Inc., NASDAQ: TSLA: 1. If Mondays open price falls within the $224.27-$225.73 range, buy at $224.27, TP1 - $225.24, TP2 - $225.48, TP3 - $225.73, SL - 2 ticks below $223.55.Sell at $225.73, TP1 - $224.76, TP2 – $224.52, […]
  • Forex Market: GBP/JPY daily trading forecastForex Market: GBP/JPY daily trading forecast Yesterday’s trade saw GBP/JPY within the range of 193.95-195.09. The pair closed at 194.12, down 0.36% on a daily basis. On Tuesday the cross went up as high as 195.35, or a level unseen since June 24th, when it registered a daily high of […]
  • Ford Motor Co.’s share price up, to release its redesigned Edge SUV in more than 100 marketsFord Motor Co.’s share price up, to release its redesigned Edge SUV in more than 100 markets Ford Motor Co. presented a redesigned version of its Edge mid-sized SUV, which is going to be provided for sale in more than 100 countries worldwide. According to the companys statement yesterday, the upgraded 2015 Edge will be built on the […]
  • Singapore CPI inflation stable at near 3-year lowSingapore CPI inflation stable at near 3-year low Annual consumer inflation in Singapore has remained stable at 2.4% in July, data by Statistics Singapore showed.It has been the lowest inflation level since August 2021.The actual figure compares with market consensus of […]