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Swiss Franc Technical Forecast: USD/CHF Breakout Looms
The US Dollar is poised to mark a fourth consecutive daily advance against the Swiss Franc with the USD/CHF rally extending today on the heels of a larger-than-anticipated rate cut from the Swiss National Bank (SNB). The bulls are once again testing a pivotal resistance zone, and the focus is on a breakout of the monthly opening range as we head into next week’s Fed rate decision. Battle lines drawn on the USD/CHF weekly technical chart. Technical Outlook: In last month’s Swiss Franc Technical Forecast we noted that USD/CHF had reversed off confluent resistance and, “while the medium-term outlook remains ... (full story)
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- Posted: Dec 12, 2024 1:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 7,670
