⚡️USD/CHF snaps the two-day winning streak, trading lower around 0.8830 during the early trading hours in the European session on Monday. The Swiss Franc (CHF) is experiencing upward support despite Switzerland’s downbeat Gross Domestic Product (GDP) (QoQ) for the second quarter.
⚡️The Swiss GDP declined to 0.0% against the market consensus of 0.1%, which was reported at 0.3% in the previous quarter. Additionally, the modest data from the United States (US) is exerting downward pressure on the USD/CHF pair, as it reinforces the likelihood of no interest rate adjustment by the US Federal Reserve (Fed) in the September meeting.
⚡️The H4 chart shows that the price line is still working above the EMA and is still stable despite some unfavorable news for the pair, however the uptrend shows no signs of stopping and could be broken. break the 0.88600 resistance area to continue going up
⚡️Share your ideas with Krado, I'm looking forward to it⚡️
Comment
⋅
⚡️USD/CHF picks up bids to refresh intraday high, reverses the previous day’s pullback from one-week high
Comment
⋅
⚡️USD/CHF Structural breaks continue to increase prices