The week was tough for risky assets due to the outbreak of coronavirus. Let’s see which currency pairs showed the best and the worst performance.
Tag - chf - swiss franc
On Wednesday, January 15, USD/CHF fell to the minimal level since September 2018. The pair declined after the United States put Switzerland on the watch list as a currency manipulator.
Boris Johnson's strict Brexit agenda is putting the GBP under pressure, causing it lose the December 12-13 gains.
Today, the euro shows a double-top pattern against the CHF, which may be used by the bears if the pattern is confirmed.
The Australian dollar weakened because of the bigger-than-expected unemployment rate…
We have a lot of USD movers today with the speech by the Fed Chair and the release of the FOMC meeting minutes
The Middle East tension pushes the market into a cautious mode; oil, gold, and the safe-haven currencies gain.
CHF/JPY is trading at the resistance line since September 2018 high. The upside is also limited by the 100-day MA at 108.85.
The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
Take a look at the weekly chart of CAD/CHF. A longer-term trade idea may emerge from here.
On the daily chart, the pair has been rising.