USD/CHF breaks above 0.9500, a 22-month high on broad US dollar strength By christianborjon USDCHF Majors Macroeconomics Technical Analysis
As portrayed by US equities trading in the green, theis positive. The Russia-Ukraine conflict continues to dominate the headlines, as the White House said there could be new sanctions on Russia this week. Meanwhile, the US dollar remains buoyant in the session, propelled by St. Louis Fed’s Bullard, who said that inflation is “far too high” and reiterated that the Fed needs to go above neutral, around 3.50%.
On Tuesday, Chicago’s Fed President Charles Evans said that the US economy “will do very well even as rates rise.” Evans added that he supports a “couple” of 50 bps increases, which could lift rates to the 1.25%-2.50% neutral rate.said that inflation expectations are well anchored, but there could be some risk to price stability in Switzerland. He commented that energy prices and supply chain disruptions would significantly impact Switzerland’s price stability.
Aside from this, the USD/CHF remained upwards, opening near the 0.9440 area and is pushing towards the 0.9500 mark, as the safe-haven peer’s Swiss franc and Japanese yen remain battered in the day.depicts the pair as upward biased. Given that the USD/CHF broke above the YTD high at 0.9460 and April’s 1, 2021 cycle high at 0.9472, it opened the door for a move towards 0.9500 and beyond.
That said, the USD/CHF first resistance would be June 30, 2020, cycle high at 0.9533. A breach of the latter would expose the 0.9600 mark, followed by June 5, 2020, a daily high at 0.9650.
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