In the Asian session on Monday, USD / CHF is slightly declining, developing the downward momentum formed after Joe Biden’s speech.
The President of the United States is proposing to sharply raise the tax rate for wealthy Americans. This statement by the Head of the White House provoked a wave of sales on stock markets.
Investors are awaiting a report on durable goods orders in the US today. Considering the signals of stable growth of the American economy, analysts’ forecasts on the eve of the release are extremely positive.
This week there will be a two-day meeting of the FRPS on the interest rate. The results will be announced on Wednesday, April 28th. Some experts believe that, taking into account the latest economic indicators, the regulator may proceed to tighten monetary policy.
The Bollinger Bands indicator on the Daily chart is showing a steady decline.
The MACD indicator is dropping below the zero level and holding a weak sell signal.
The stochastic oscillator is testing from above for a breakdown of the border of the oversold area (20%).
We believe that short positions should be held in the near future.
After a confident breakdown below 0.9100, we open additional sells in the direction of the 0.9000 target. The stop loss is placed at 0.9163.
A change in the direction of movement will be indicated by the price fixing above the level of 0.9163. We open purchases with a take profit of 0.9244. Stop loss 0.9110.