Dólar Americano/Franco Suíço
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USD/CHF Price Action Analysis

100
USD/CHF is currently testing the upper band of the daily descending formation which is also the 50% Fibonacci Retracement level making this zone a very high key area. Additionally, the price is trading inside an ascending channel inside the bigger descending, hence making our analysis for a reversal more valid.

Our first target for this swing trade is 0.9577. Breaking this area will push the price for further downside towards retesting 0.9496 and 0.9381 in extension.

From a fundamental standpoint, the Fed is looking to continue aggressively increasing interest rates in September; however, I believe that rate increases are priced in and further rate hikes won't push DXY up the way it did from the lows near 89.00 towards 109.00. Goodluck!

M.Y.

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