Current dynamics

The USD/CHF pair, after reaching the 0.8957 mark last week, fell to the 0.8870 region, coming under pressure from macroeconomic statistics from Switzerland.

Thus, the employment level in the third quarter was 5.528 million, exceeding the forecast of 5.500 million and 5.499 million earlier. The positive dynamics may influence the decision on the interest rate by the Swiss National Bank at the meeting on December 12, and officials may leave the indicator at 1.00% or even increase it. At the same time, market participants expect the US Federal Reserve to reduce the cost of borrowing at the meeting on December 18, which will put pressure on the US dollar.

Investors are focused on the appointment of well-known investor Scott Bessent as US Secretary of the Treasury by US President-elect Donald Trump: the official is 62 years old, and his entire career is associated with managing finances on Wall Street. Introducing the appointment, Trump said that Bessent is widely respected as one of the world's leading international investors, as well as geopolitical and economic strategists. Experts reacted positively to the new appointment, believing that the politician is well acquainted with the specifics of financial markets and will be able to keep the Republican administration from making too abrupt economic changes.

The long-term trend remains downward, but in October-November an upward correction develops, within which the price reached the resistance level of 0.8920 and turned down. If the decline continues this week, then the quotes can reach the marks of 0.8800 and 0.8625, and in case of overcoming the level of 0.8920, long positions with the target of 0.9050 will become relevant. The RSI indicator (14) left the overbought zone and formed a "divergence" signal, which indicates a possible downward reversal.

The medium-term trend is upward: in November, the asset reached zone 2 (0.8921–0.8892), broke through it, but then entered a correction, within which it can test the support area of 0.8840–0.8829, where long positions with a target at last week’s maximum of 0.8955 will become relevant. In case of a breakdown of the 0.8840–0.8829 area downwards, the decline will continue to the trend border of 0.8726–0.8704.

Support and resistance levels

Resistance levels: 0.8920, 0.9050.

Support levels: 0.8800, 0.8750, 0.8625.

Trading scenarios

Short positions can be opened from the level of 0.8880 with a target of 0.8750 and a stop-loss of 0.8925. Implementation period: 9-12 days.

Long positions can be opened above the level of 0.8930 with a target of 0.9050 and a stop loss of 0.8885.