I've been following the fall of the USDCHF (more than 500 pips) throughout the month of March on the H4:
The main driver of this fall is presumably the hope the markets have lost on any US interest rate hikes in April. Having said that, the FED minutes came out this week, and they showed some -albeit mild- intention to not close the door on June. If you consider what 2 wage increase reports in a row could do to expectations of a hike... All sorts of rumors would fire off, expectations would grow, and we could see the Franc use that momentum to retrace to a more comfortable 0.98 - 0.99 range:
This is the H4:
This is the same range in the D1:
To think that the US will present good numbers in the near future is not far fetched at all, if anything, the weaker dollar would have helped the exports, and foreign sales in Q1.
Anybody looking at the USDCHF from this angle?
The main driver of this fall is presumably the hope the markets have lost on any US interest rate hikes in April. Having said that, the FED minutes came out this week, and they showed some -albeit mild- intention to not close the door on June. If you consider what 2 wage increase reports in a row could do to expectations of a hike... All sorts of rumors would fire off, expectations would grow, and we could see the Franc use that momentum to retrace to a more comfortable 0.98 - 0.99 range:
This is the H4:
This is the same range in the D1:
To think that the US will present good numbers in the near future is not far fetched at all, if anything, the weaker dollar would have helped the exports, and foreign sales in Q1.
Anybody looking at the USDCHF from this angle?