Current trend

The USD/CHF pair reached 0.9138 amid the growth of the American dollar after macroeconomic statistics release.

Thus, in March, the consumer price index increased by the previous 0.4%, contrary to forecasts of a slowdown to 0.3% MoM, and rose from 3.2% to 3.5% YoY, ahead of expectations of 3.4%. The core value, excluding food and energy, adjusted by 0.4% MoM and 3.8% YoY, as in the previous period, above the forecasted 0.3% and 3.7%. In Switzerland, there is a lack of key data this week.

The long-term trend is upward: yesterday, the price overcame 0.9107, and after consolidation above, the growth will continue to the October high of 0.9230. If the quotes return below the resistance level of 0.9107, a decline to 0.8997 is expected, where long positions with the target at 0.9107 are relevant. The RSI indicator (21) indicates that the trading instrument is overbought, which limits the positive dynamics of the asset: after renewing the October high of 0.9230, a correction is likely to develop.

The medium-term trend is upward: at the end of March, the price overcame zone 3 (0.9002–0.8979), and zone 4 (0.9249–0.9224) became the purchase target. In the event of a correction to the trend support area 0.8906–0.8883, long positions with the first target at the current week’s high of 0.9144 are relevant.

Support and resistance

Resistance levels: 0.9107, 0.9230, 0.9329.

Support levels: 0.8997, 0.8878.

Trading tips

Long positions may be opened from 0.9897, with the target at 0.9107 and stop loss 0.8965. Implementation time: 9–12 days.

Short positions may be opened below 0.8965, with the target at 0.8878 and stop loss 0.9005.