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.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
