The increasing value of the currency pairing of the US dollar to the Swiss franc (USD-CHF) that has risen from 0.8799 to 0.9330 per dollar recently is expected to continue next week, largely fuelled by signs of a US economic recovery.

President Joe Biden’s plans for additional Covid-related relief and stimulus is likely to bring more positive changes.

The $1.9 trillion American Rescue Plan will be key in maintaining the USD-CHF uptrend.

President Biden anticipates a two-pronged response to the pandemic and the economic crisis.

One is based on the first round of bailouts approved in 2020 and will provide more spending to individuals, expand support to households and small businesses, provide funding for vaccine distribution and give assistance to state and local governments.

Under the rescue plan, individuals are to receive an additional $1,400 direct payment, while small businesses are to receive $15 billion in aid to help the recovery from the effects of the pandemic.

Biden will also leverage $35 billion in government funds to generate $175 billion to support small businesses.

Since March, according to forexfactory.com, US economic momentum and job growth has improved. The February employment rate was 379,000, up from 166,000 in January.

Other key economic data – the economic optimism index, the ISM manufacturing index and unemployment claims – were also higher than in previous months.

Given this scenario, the strong dollar will also push the USD-CHF value in the coming weeks.

Therefore, traders can buy at 0.9260, setting the first take-profit function at 0.9310 and the second one at 0.9350, setting the hedge function at 0.9233 per dollar.