The USD/CHF pair broke down during the day on Monday, as the US dollar sold off in general. There are fears that the Federal Reserve will not be able to
The USD/CHF pair broke down during the day on Monday, as the US dollar sold off in general. There are fears that the Federal Reserve will not be able to hike interest rates later this year, so the dollar got pounded. However, the Swiss franc of course is being worked against buying the Swiss National Bank, so the fact that we bounced from here and form a nice-looking hammer isn’t much of a surprise. If we can break back above the 0.95 level, we are buyers as it would be a very strong sign of the uptrend continuing.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
