The strong Monday session brought the USD/CHF exchange rate closer to a significant resistance in the region of 1.00. However, this psychological barrier was strongly overcome last year, and looking more broadly at the several-year side trend, this resistance is not particularly important either, and the price may increase even further by moving in the wider side range. Breaking the resistance should mean an attack on the high from November last year. Recently, the dollar seems to be strong due to weakness of other currencies, which are weakening due to poor reports from the Chinese economy, for example. Recent GDP figures have turned out to be the lowest in 28 years on an annual basis.
I trade on this instrument at broker XM, which has in its offer more than 300 other assets >>
The markets are still waiting for some concrete proposals for negotiations between China and the USA. In such conditions, the dollar remains one of the strongest currencies, as the US economy is doing well, even though the government has been suspended or interest rate growth has been announced to slow down. It seems, therefore, that resistance may trigger some kind of adjustment, but I think that the USD/CHF exchange rate should continue to rise.
