In the dynamic world of forex trading, where exchange rates can shift rapidly due to various factors, keeping a vigilant eye on key indicators is paramount. One such critical factor that can sway the direction of currency values, particularly the United States Dollar (USD), is the speeches by officials of the Federal Reserve. These speeches can unveil crucial insights into the central bank's monetary policy, economic outlook, and potential shifts in interest rates, all of which have a direct impact on the USD and trading strategies.

The AUDCHF Performance

The price has broken through the 0.56779 barrier level. We've been waiting for a retracement to happen. If the retracement does not occur today, traders can expect the setup to occur by the beginning of next week. The price objective is set at 0.57572. Please bear in mind that this is not advise, but rather information that may aid consumers in making more informed decisions on their own.

The GBPNZD Performance

Price is through the 2.13573 price barrier for a short entry. The goal price is set at 2.11793, which equates to 38.3 on the Fibonacci retracement tool. We've seen sellers drive the price down, falling about 50 pips shy of the target. The shorter periods look to be building a double bottom, signalling an intraday retracement. 

Traders should monitor these levels throughout the day; the setup might be ready next week. Please bear in mind that this is not advise, but rather information that may aid consumers in making more informed decisions on their own.

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The USDCHF Performance 

On a weekly basis, the US dollar has been appreciating against the CHF, rising from a price point of 0.86570. Shorter periods are increasingly showing weariness, particularly at the daily and H1 levels. Traders should opt for a long position at 0.89599. 

Because a pullback may occur before the upward surge, you should keep an eye on the long opportunity. The Federal Reserve will meet to discuss policy and the path forward, so traders should keep an eye out for any changes. Please bear in mind that this is not advice, but rather information to aid consumers in making more informed decisions on their own.

Final Thoughts On Today's Analysis 

Federal Reserve speeches have the potential to be game-changers for FX traders. Monitoring these remarks with a critical eye, comprehending their ramifications, and putting well-thought-out trading tactics into action. Furthermore, this can provide traders with a competitive advantage in navigating the complicated world of currency trading.

Remember, the words spoken by Fed officials have the power to move markets, making them an indispensable element of any trader's toolkit in the pursuit of success. Subscribe to our YouTube channel today to learn more about our analysis on USD.