Mar. 3, 2021
Swiss franc today at a glance – light green, mostly flat: USD/CHF ranging between 0.9165 and 0.9135 and is now at 0.9163. United States ADP Nonfarm Employment Change (Feb) data will be released today at 1:15 PM, with an expected decline to 177,000. (Start trading Swiss francs at FXTM today).
Dollar/Swiss technical analysis picture ahead of data: The chart visual study suggests Swiss franc immediate resistance is around 0.9169, nearest support level is at 0.87. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that the upper Bollinger band is at 0.9223, This is a slight indication of a slowdown.
Overall, technical indicators suggest the Dollar/Swiss has no obvious direction for the immediate future.
As the market gets ready for data release – HANG SENG INDEX is up 2.7%. SSE is trading around 3,577 after starting the session at 3,508.59 (up 1.95%).
Earlier data releases related to the Dollar/Swiss – Switzerland Consumer Price Index released earlier shows an improvement to 0.2 from the preceding data of 0.1, but falls short of the projected 0.4. United States API Weekly Crude Oil Stock beats expectations of -1.85 million with new data release of 7.36 million. This is also a step forward from the previous data of 1.03 million.
Coming up for Swiss franc – United States Crude Oil Inventories , seems to be pointing downwards with an expected -928,000 while the preceding figure was 1.28 million, New data will be released today at 3:30 PM. United States Initial Jobless Claims are projected to decline to 750,000 while the previous data was 730,000, Data will be released tomorrow at 1:30 PM.