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USD fundamentals are breaking loose since the NFP and it paves way for more sellers. Also Swiss gains some attention after long dull move till last thursday. Also, recent retail and other basic fundamentals were good from Swiss which makes the price action in favor of it. In line with it, USDCHF chart depicts further bearishness is possible as the buyers for USD is hesitant to take over Swiss. With current bearish action, 0.95 price action is in sight, if it crosses 0.9650.
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USDCHF showing slightly bearish sign
Market is becoming bearish again because of the fundamental bearishness is USD and Great britain. USD has grown over the hype of Interest rate hike but it may well come back to the bearish term before coming into decisive factor of Interest rate. Considering this, below technical analysis suggests slightly bearish sentiment. Please find the USDCHF 4 HR chart,
USDCHF is struck in a range without trend or direction
Swiss franc has given up completely since a month and everyone was expecting that it would continue for long considering the decrease in Euro deposit rate. But to the surprise, it was welcomed by the investors and EURO and FRANC had great run for last 2 days. In line with that please find the technical analysis,
Monthly chart:
- This pair shows low weakness since 2011 mid and since then downward movement was less and occasionally it peeped out (Jan 2015) but formed as a doji which again shows t…
Monthly chart:
- This pair shows low weakness since 2011 mid and since then downward movement was less and occasionally it peeped out (Jan 2015) but formed as a doji which again shows t…