On the lookout for extra U.S. greenback trades? I gotchu!

February was a GOOD month for USD/CHF, because it discovered backside at .9060 to leap allll the best way to its present .9420 ranges.

However can USD/CHF bulls sustain the strain?

USD/CHF 1-Hour Foreign exchange Chart by TradingView

Each the 1-hour chart’s 100 and 200 SMAs are nonetheless pointed increased, which may assist additional shopping for.

However USD/CHF has stalled in a 75-pip vary between .9425 and .9350 after a pointy upswing final week. The vary’s resistance, specifically, was additionally a significant inflection level again in November and December.

After which there’s Stochastic, which simply hit overbought standing.

USD/CHF’s subsequent route may depend upon what number of risk-averse merchants decide USD over CHF amidst the Fed’s hawkish expectations and better Treasury yields.

Elevated USD demand may bust USD/CHF above its consolidation and retest ranges not seen since December. .9460 is an effective space to look at although the pair may additionally hit .9500 if there’s sufficient momentum.

In the meantime, issues for the U.S. economic system or risk-taking in different markets may drag the greenback decrease towards CHF.

If it’s trying just like the .9425 vary resistance is holding, then you definately gotta be able to commerce a doable journey to the .9380 mid-range ranges or the .9350 assist nearer to the 200 SMA.

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