Analysis of the dollar-franc pair

At the economic level

The dollar-franc pair rose during today's trading on Wednesday in light of the scarcity of economic data from Switzerland after the decision to reduce the Swiss interest rate last week from 0.5% to 0.25%. here are more details of this decision.

On the other side of the US economy, the US dollar rose slightly on Wednesday against most currencies, and we are waiting for US Durable Goods Orders data today, and we will also have important data this week starting tomorrow with growth data, and then on Friday with the Personal Consumption Expenditures price index data, which is the Fed's preferred indicator for measuring inflation.

On the technical side

After the pair completed the harmonic pattern shown in the chart, the pair rose up to the levels of 0.8840, but it is still trading the lows of the four-hour downtrend.

Which, with its breakout upwards in parallel with the breakout of the resistance levels of 0.8860/65, and closing higher, therefore we will have good buying opportunities on the pair to target the levels of 0.8920 as the initial target, then 0.8980 as the second target and finally the levels of 0.9050.

This scenario fails in the event of a return again inside the trend and resistance levels, which will turn into support after breaking higher.