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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