USD/CHF Trade Setup – April 28
USD/CHF is showing renewed downside pressure, trading around 0.8270 amid increased safe-haven demand for the Swiss Franc. Trade-related uncertainty between the US and China and geopolitical tensions continue to weigh on risk appetite. Technically, the pair remains in a bearish structure, and sellers are pressing below the key 0.8300 psychological level.
With the Fed in blackout ahead of the May 7 FOMC meeting and upcoming US GDP and employment data, volatility could pick up. A break below 0.8250 could open the path toward deeper support at 0.8200. However, if US data surprises to the upside later this week, a recovery back above 0.8300 would invalidate the bearish bias and suggest a retest of 0.8370 resistance.
Bias: Bearish below 0.8300.
Key Levels: Support – 0.8250 / 0.8200 | Resistance – 0.8300 / 0.8370.
Risk Event: US Q1 GDP and NFP releases later this week.
#USDCHF #Forex #TradeSetup #TechnicalAnalysis
USD/CHF is showing renewed downside pressure, trading around 0.8270 amid increased safe-haven demand for the Swiss Franc. Trade-related uncertainty between the US and China and geopolitical tensions continue to weigh on risk appetite. Technically, the pair remains in a bearish structure, and sellers are pressing below the key 0.8300 psychological level.
With the Fed in blackout ahead of the May 7 FOMC meeting and upcoming US GDP and employment data, volatility could pick up. A break below 0.8250 could open the path toward deeper support at 0.8200. However, if US data surprises to the upside later this week, a recovery back above 0.8300 would invalidate the bearish bias and suggest a retest of 0.8370 resistance.
Bias: Bearish below 0.8300.
Key Levels: Support – 0.8250 / 0.8200 | Resistance – 0.8300 / 0.8370.
Risk Event: US Q1 GDP and NFP releases later this week.
#USDCHF #Forex #TradeSetup #TechnicalAnalysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.