➡️ The USDCHF pair rose towards 0.9600 on Friday, supported by the strengthening of the US dollar. DXY is up 0.60% above 101.00, the highest level since March 2020.
The US dollar gained momentum and rose to 0.9590, the highest level since June 2020. He stays near the top, holding on to the rise.
Expectations of more aggressive tightening by the Federal Reserve continue to put pressure on markets. On Wall Street, the major indices fell more than 1% for the second day in a row. US yields are relatively stable, holding near multi-year highs.
Economic data from the US was mixed. The manufacturing index unexpectedly rose to its highest level in nine months, while the service sector indicator fell to its lowest level in three months. Next week's data includes the first GDP estimate for the first quarter.
Technically, the pair's growth is exhausted and new buyers, judging by the volumes, are not observed. Therefore, the resistance level 0.95930 is probably a local high and we should expect a decrease towards support 0.94185. The main selling target for the instrument now will be the level 0.95360.
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👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
The US dollar gained momentum and rose to 0.9590, the highest level since June 2020. He stays near the top, holding on to the rise.
Expectations of more aggressive tightening by the Federal Reserve continue to put pressure on markets. On Wall Street, the major indices fell more than 1% for the second day in a row. US yields are relatively stable, holding near multi-year highs.
Economic data from the US was mixed. The manufacturing index unexpectedly rose to its highest level in nine months, while the service sector indicator fell to its lowest level in three months. Next week's data includes the first GDP estimate for the first quarter.
Technically, the pair's growth is exhausted and new buyers, judging by the volumes, are not observed. Therefore, the resistance level 0.95930 is probably a local high and we should expect a decrease towards support 0.94185. The main selling target for the instrument now will be the level 0.95360.
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👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
