USD/CHF Weekly Outlook: A Comprehensive Analysis
Sunday, 21 July 2024, 04:45
USD/CHF Weekly Outlook
Last week, the USD/CHF pair dipped to 0.8819 as it attempted to resume its fall from 0.9223, but it has since shown some recovery.
Current Market Bias
The initial bias for this week remains neutral. There is a preference for further decline, provided that the resistance at 0.8914 holds firm.
Potential Break Points
- If the pair drops below 0.8819, it may target the 61.8% retracement level at 0.8672.
- If it breaks above 0.8914, we may see a strong recovery.
In conclusion, traders should monitor the key levels of 0.8819 and 0.8914 for potential market direction.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.