Forex Analysis – CHF Pairs – November & December 2022


Our previous CHF Forex analysis click here

Technical Analysis

FOREX ANALYSIS: AUDCHF – Down-trending

AUDCHF technical analysis
AUDCHF Daily Chart

The AUDCHF closed below the range support area and has since been bearish, as suggested in our previous analysis.

Price action has formed a series of lower swing highs and lower swing lows, so price is down-trending. AUDCHF has formed a bearish channel and the moving averages are bearish and widening, so the downside may continue.

Selling opportunities could exist around the bearish moving averages, around the bearish channel resistance area and around any of the horizontal levels at 0.6400, 0.6500, 0.6525, 0.6575, 0.6700 and 0.6800. A bearish move may find support around the recent lows at 0.6225 and around the bearish channel support area.

FOREX ANALYSIS: CADCHF – Indecisive. Possible downside?

CADCHF technical analysis
CADCHF Daily Chart

CADCHF has been bearish.

Price is currently down-trending but CADCHF continues to look indecisive overall. CADCHF has formed lower swing highs and lower swing lows and the moving averages have crossed bearish, so the downtrend may continue. Price is ranging on higher time-frames between 0.7125-0.7800 – the range bound market may continue.

Shorting opportunities could exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 0.7325, 0.7485 and 0.7560. A bearish move may stall or reverse around the horizontal support levels at 0.7175 and 0.7125.

FOREX ANALYSIS: EURCHF – Down-trending. End of the trend?

EURCHF price action chart
EURCHF Daily Chart

As suggested in our last analysis, price was bearish and swung lower.

EURCHF is down-trending but has recently been bullish and has formed a higher swing high, suggesting that the downtrend could be over. The moving averages continue to be bearish and widening though, so the downtrend could continue.

Opportunities to go short may exist around the longer-term moving average and around the horizontal levels at 0.9975, 1.0100, 1.0250, 1.0500 and 1.0600. A bearish move could be rejected or reverse around the shorter-term moving average and around the horizontal support levels at 0.9825, 0.9575 and 0.9500.

FOREX ANALYSIS: GBPCHF – Down-trending. End of the trend?

GBPCHF Daily Chart

Price has been bearish and has swung lower, as suggested in our last CHF Forex analysis.

The GBPCHF is clearly down-trending and is currently in a retrace move. The moving averages are bearish and widening, so the downtrend may continue. Price is looking over-extended on higher time-frames though and price action has created a clear floor for GBPCHF, so the downtrend may be over.

Trading opportunities could exist around the moving averages, around the trend resistance area and around the horizontal levels at 1.0575, 1.1525, 1.1750, 1.2000, 1.2100, 1.2275, 1.2425 and 1.2600.

FOREX ANALYSIS: USDCHF – Up-trending. Possible indecision?

USDCHF analysis
USDCHF Daily Chart

USDCHF has been bullish.

Price action has formed a series of higher swing highs, so the USDCHF is up-trending. The moving averages signal that the trend could continue – they are bullish and steady. Price is struggling to move above the resistance area at 1.0050 and price action is looking a little choppy, suggesting that USDCHF could become indecisive.

Opportunities to go long may exist around the moving averages, around the trend support areas, if price closes above 1.0050 and around the identified horizontal levels at 0.9850, 0.9550 and 0.9400.

Fundamental Analysis

Interest Rates

The Swiss National Bank (SNB) have hiked rates by 75bps, so the official rate is now at 0.5% – interest rates being positive for the first time in over a decade. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising prices.

Key Economic Figures

September 2022 inflation rate 3.30%
June 2022 GDP Growth 0.30%
September 2022 unemployment rate 1.90%

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