Forex traders are awaiting key US durable goods orders, and economists predict a recovery in December following November’s contraction. Housing data and consumer confidence are likely to move the US Dollar, while a regional manufacturing index may add volatility. The USDCHF is trapped in a bearish chart formation, but how will today’s economic data impact price action? Today’s fundamental analysis will take a look at price action in both directions.

Swiss trade data showed an unexpected plunge in exports, confirming the global economy remains fragile. The Swiss Franc is benefiting from the flight into risk-averse assets, as the new coronavirus is spreading in China and globally. Over 3,000 cases have been confirmed in over a dozen countries, and almost 100 deaths reported. Will bears keep the sell-off intact, or can bulls force a reversal? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.