USD/CHF has been quite impulsively bullish recently as the CHF had a series of bad economic reports in comparison to USD. After a long streak of bearish pressure in the pair currently, some bullish pressure is observed which is expected to be a good counter move to turn the pair around. Today CHF KOF Economic Barometer report was published with an increased figure at 106.8 from the previous figure of 105.8 which was expected to increase to 105.9. Despite the better than expected result in the economic report today CHF could have an impact over USD which signals severe weakness of CHF in the current scenario. On the USD side, today Advance GDP report is going to be published which is expected to increase to 2.5% from the previous value of 1.4%, Advance GDP Price Index is expected to decrease to 1.3% from the previous value of 1.9%, Employment Cost Index is expected to decrease to 0.6% from the previous value of 0.8% and Revised UoM Consumer Sentiment is expected to have a slight increase to 93.2 from the previous value of 93.1. Moreover, FOMC Member Kashkari is about to speak today about nation's key interest rates and future monetary policies which are expected to be hawkish in nature. To sum up, USD is currently quite stronger than CHF despite the unchanged interest rates discussed in FOMC meeting this week and mixed economic reports. As of the current scenario, USD is expected to be gain further over CHF in the coming days.
Now let us look at the technical view, the price has been quite impulsively bullish after breaking above the 0.9950 after the false bearish break below the level. As the price has also broken above the dynamic level of 20 EMA the price is expected to be bullish with a target towards 0.9800 resistance level in the coming days.
