The Dollar
has been strengthening versus the Swiss Franc due to the fact that if the
European Central Bank expands its economic stimulus, then most probably the
Swiss National Bank would have to lower its interest rates even more, which are
currently already in negative territory. The 0.9800 level could act as a
resistance as we can see on the daily chart and from there the price may try to
bounce to the downside. However, if the price breaks above that level, then the
next round number level of the 0.9900 could act as resistance. To the downside,
the 200 day exponential moving average around the 0.9572 level could act as
support.
Very good analysis about USDCHF, thanks for sharing.
ReplyDeleteGreat analysis, Thank you.
ReplyDeleteIt could retrace from this point.
ReplyDeleteExcellent analysis, thanks for sharing!
ReplyDeleteIt seems still potential on the upside.
ReplyDeleteWell spotted! I'll keep an eye on it.
ReplyDeleteThank you for the analysis!
ReplyDelete