FX.co ★ blaise.rogahn | USD/CHF

Currently, the market is behaving ambiguously in assessing the strength of the US dollar. It is actively strengthening against the British pound but less so against the Canadian dollar. The USD/CHF currency pair is maintaining neutral positions around the middle of the 0.79 level, in contact with the 14-period moving average on the 4-hour chart, and slightly below the lower boundary of the trend indicator 2EMA, which recently turned bearish. On one hand, a downward movement seems more acceptable, especially since the advisor on my chart is also on the selling side. However, we still do not know for sure how the market will behave given that US inflation slightly decreased from 3.1% to 3% in September, which is a negative factor for the dollar. On the other hand, business activity in the service sector has significantly increased, which could push the dollar higher. Nevertheless, the main scenarios will likely become clearer next week. For now, I believe the USD/CHF pair will continue to trade between the support at 0.7945 and the resistance at 0.7970, intersecting with the upper boundary of the trend indicator 2EMA, before a decision is made on a specific direction for trading.