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USDCHF overview 01.04.2021

USDCHF rises on improved sentiment.

USDCHF rising today under the effect of the bullish USD sentiment and the bearish CHF sentiment – both reflecting the improvement in the risk sentiment among the investors worldwide. The sentiment is improving as investors bet fiscal stimulus and aggressive vaccination (which has already affected close to 30% of population) will help the United States grow faster than other economies. U.S. President Joe Biden announced his $2 trillion-plus job plan, including $621 billion to rebuild infrastructure, which would certainly be a big positive for the U.S. economy and the U.S. dollar if passed by Congress. A survey by the Institute for Supply Management (ISM) due today is expected to show further improvement in the manufacturing – which would be a bullish signal for USDCHF.

Expect buyers on downward corrections.

Next resistance to watch – 0.9545

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