USDCHF forecast bearish despite Swiss retail sales surprise
Technical Analysis Summary USD/CHF: Neutral
| Indicator | Value | Signal |
| RSI | Sell | |
| MACD | Buy | |
| MA(200) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
The USDCHF technical analysis of the price chart on hourly timeframe shows USDCHF,H1 is rebounding toward the 200-period moving average MA(200) which is falling still. The RSI has entered the overbought zone. We believe the bearish momentum will resume after the price breaches below 0.9529. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.9603. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Swiss retail sales declined less than forecast in May. Will the USDCHF price rebound reverse?
Swiss retail sales declined less than forecast in May. The Swiss Federal Statistical Office reported retail trade turnover in Switzerland decreased 1.6% over year in May after 5.5% drop in April, when a 5.0% decrease was expected. This is bearish for USDCHF.