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Should We Watch for a Rebound in the Swiss Franc, Which Has Been Facing Resistance at Higher Levels?

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Should We Watch for a Rebound in the Swiss Franc, Which Has Been Facing Resistance at Higher Levels?

14.02.2025

Today's Highlights
  1. Europe: Real GDP
  2. Germany: Wholesale Price Index

In the U.S. currency market the previous day, the Canadian dollar edged lower against the yen. The CAD/JPY pair fell from 108.309 to 107.358.On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as resistance, while on the daily chart, the 75-period MA is functioning as a resistance zone. We will be watching to see if the Canadian dollar’s weakness against the yen continues.

European currencies saw the Swiss franc weaken against the yen after yesterday’s release of Switzerland’s January Consumer Price Index (CPI), which showed a year-over-year decline of 0.4%, down 0.2 percentage points from the previous month’s 0.6%. The CHF/JPY pair fell from 169.746 to 168.756.The uptrend along the 20-period moving average (MA) on the hourly chart has broken down. On the 4-hour chart, the RSI has pulled back after touching 70, and on the daily chart, the price has reversed direction at the 20-period MA.

Today’s schedule includes Japan’s domestic and foreign securities investment at 8:50, Singapore’s real GDP at 9:00, India’sWholesale Price Index, at 16:00 Germany’s Wholesale Price Index, at 16:30 Switzerland’s Producer Import Prices, at 19:00 the Eurozone’s Real GDP, at 19:30 Russia’skey interest rates, at 22:30: Canada’s manufacturing sales, U.S. retail sales, and U.S. import price index, at 23:15: U.S. industrial production, at 25:00: Russia’s consumer price index, and at 29:00: remarks by Logan, President of the Dallas Fed.We will be watching for any rebound in the Swiss franc, which has been facing resistance on the upside.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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