Where Usdchf are Headed in the next period
usdchf consolidating for more than three months across a technical retrenchment zone
You may notice, the technical format of the triangular formation reflect at the chart
move above 0.9720 – 0.9860 opens a clear bullish sign area could trigger further bullish pressure to higher levels such as 1.12
move below 0.9330 – 0.9260 opens a clear bearish sign area could trigger further bearish pressure to lower levels such as 0.77
Potential daily range seen between 0.9600 – 0.972 ,while weekly could test 0.9330- 0.9780
from the fundamental side:
The rally was likely triggered by hawkish comments “If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy,” .During two days of testimony before Congress, Yellen signaled that the central bank remains on track for the first rate hike in almost a decade”.
the interest rate differential between the U.S. and Switzerland is making the U.S. Dollar a more attractive investment.
get ready for a big move when the boundary will break up/down
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