
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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Performance in 2020: -0.8%
Last day range: 0.9550 – 0.9584
52-week range: 0.9520 – 1.0236
The USD dropped to its two-year lows against the Swiss franc. 0.9577, where it is now, was last visited by the USD/CHF in March 2018. That doesn’t change much in historical terms (this level is an average the currency has been around for the last 6 years) but marks an important tactical checkpoint. At least, it makes full sense in the context of the USD’s weak recent performance against other currencies and the US Fed’s interest rate cut.
Looking ahead, there is full potential for the CHF to stay strong against the USD as we already know that the fundamentals backing up the US economy are hardly helping the US dollar to keep value, at least for the current moment. It is very possible, therefore, that the movement of the USD/CHF will be moderately directed to the downside, more probably aiming at the technical levels mentioned below, in the short-term.
Resistance 0.9597
Support 0.9520
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
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The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
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