USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area.
Tag - chf - swiss franc
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down.
The decline of USD/CHF from February highs to March lows was epic. The pair then reached support at 0.9185 (2018 low) and turned up.
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AUD/CHF formed a higher low on the H1. The pair may be forming something like a “Crab” harmonic pattern.
CHF/JPY has been declining since the middle of January. It went down, as the yen was the number one safe haven after the outbreak of the coronavirus in China.
USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.
NZD/CHF fell this week as the Swiss franc appreciated versus other currencies. However, the positive market sentiment related to the US-China trade deal helped the pair to find support in the 0.6355 area.
American iInflation data may affect the USD. Safe-haven assets are down ahead of the agreement between the US and China.
The US dollar has been trying to recover after the suffering in the last days of 2019.