- The US dollar maintains weekly gains across the board.
- USD / CHF registers the best weekly results in a month, still on the side.
The USD/CHF It resumed the upside during the American session and rose towards the 0.9170 area. It continues to maintain a bullish tone after a short-lived pullback that found support around 0.9130. The US dollar records a weekly gain of more than one hundred pips.
The dollar is about to end the week higher across the board and on a positive note, supported by risk aversion and also by rising US yields.
The Swiss franc did not benefit against the dollar despite falling share prices and before the US elections, but it rose against the euro. The common currency weakened after the European Central Bank meeting, also contributing to the upward pressure on USD / CHF.
From a technical perspective, the recent rally in USD / CHF points to more gains, but from a broader perspective, it continues to move sideways supported by the 0.9000 area and with resistance initially below 0.9200 and then 0.9300. Also, the 20-week moving average at 0.9210 could be seen as a relevant technical level.
Technical indicators are beginning to favor the US dollar. Next week it will be critical to see if the pair manages to break out and hold above 0.9170 which would point to further gains or if it fails again, suggesting another visit to 0.9040 and 0.9000.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
