{"id":288875,"date":"2024-04-24T19:43:20","date_gmt":"2024-04-24T14:13:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=288875"},"modified":"2024-04-24T19:43:20","modified_gmt":"2024-04-24T14:13:20","slug":"trades-close-to-six-month-high-around-0-9150-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/trades-close-to-six-month-high-around-0-9150-crypto-news\/","title":{"rendered":"Trades close to six-month high around 0.9150 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><b>USD\/CHF oscillates near a six-month high around 0.9150, exhibiting strength ahead of crucial US data.<\/b><\/li>\n<li><strong>The SNB is expected to extend the rate-cut cycle in June.<\/strong><\/li>\n<li><strong>The Fed sees the current interest rate policy framework as appropriate.<\/strong><\/li>\n<\/ul>\n<p>The USD\/CHF pair hovers around the six-month high of 0.9150 in Wednesday\u2019s early American session. The near-term outlook of the Swiss Franc asset remains bullish, with expectations of further escalation in policy divergence between the Federal Reserve (Fed) and the Swiss National Bank (SNB).<\/p>\n<p>The Fed is expected to keep interest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\" data-fxs-autoanchor=\"\">rates<\/a> at their current levels for a longer period, given the strength in the United States labor market and stubbornly higher inflation due to strong consumer spending.<\/p>\n<p>The SNB will reduce interest rates again in the June policy meeting. The SNB kicked off the global rate-cut cycle after lowering borrowing rates by 25 basis points (bps) to 1.5% in the March meeting. The inflation in the Swiss economy has softened below the 2% target from a longer period, allowing the SNB to slice key interest rates further.<\/p>\n<p>Meanwhile, investors await the crucial US Q1 Gross Domestic Product (GDP) and the core Personal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">Consumption Expenditure<\/a> Price Index (PCE) data for March, which will be published on Thursday and Friday. The economic data will impact market expectations for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Fed<\/a> rate cuts, which are currently expected in the September meeting.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdchf\" data-fxs-autoanchor=\"\">USD\/CHF<\/a> trades back-and-forth in a tight range near the crucial resistance of 0.9110, which is plotted from 1 November 2023 high plotted on a daily timeframe. The asset is expected to extend its upside as the upward-sloping 20-day Exponential Moving Average (EMA) near 0.9075 suggests an upbeat near-term outlook.<\/p>\n<p>The 14-period Relative Strength Index (RSI) oscillates in the bullish range of 60.00-80.00, indicating that a bullish momentum is still active.<\/p>\n<p>Going forward, an upside move above intraday high of 0.9153 will drive the asset towards the round-level support of 0.9200. A breach of the latter will push the asset further to 4 October 2023 high at 0.9232.<\/p>\n<p>In an alternate scenario, fresh downside would appear if the asset breaks below the psychological support of 0.9000, which will expose it to March 22 low at 0.8966, followed by March 1 high at 0.8893.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CHF daily chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_USD_CHF_2024-04-24_19-06-54-638495630628273360.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CHF oscillates near a six-month high around 0.9150, exhibiting strength ahead of crucial US data. The SNB is expected to extend the rate-cut cycle in June. The Fed sees the current interest rate policy framework as appropriate. The USD\/CHF pair hovers around the six-month high of 0.9150 in Wednesday\u2019s early American session. The near-term outlook [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,366,255,388,250,252,247,253,249,1625,524,597,256,254],"class_list":["post-288875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-snb","tag-supportresistance","tag-usdchf","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/288875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=288875"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/288875\/revisions"}],"predecessor-version":[{"id":288876,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/288875\/revisions\/288876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/4629"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=288875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=288875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=288875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}