USDCHF - what will happen next?
- in Dec 23 CHF was at highest levels since Asian Crisis in 2015 - most likely due to geopolitical dangers in Europe
- since then it rebound to the technical resistance at 0.90 (AB=CD) + Bearish Gartley D point, which has been recognized by the market, not respected yet
- SNB cut rates recently and will most likely continue doing so: the bankruptcies are at highest level in history and Swiss business believes strong Frank does'n help,
- Manufacturing PMI at 44 - again not funny
- Current Account to GDP = 9.5% - pretty well
- USD is expected to weaken
From technical perspective we should see the reflection from Resistance, yet i expect SNB to do what it takes to weaken CHF. They may succeed unless any black swans appar...
- since then it rebound to the technical resistance at 0.90 (AB=CD) + Bearish Gartley D point, which has been recognized by the market, not respected yet
- SNB cut rates recently and will most likely continue doing so: the bankruptcies are at highest level in history and Swiss business believes strong Frank does'n help,
- Manufacturing PMI at 44 - again not funny
- Current Account to GDP = 9.5% - pretty well
- USD is expected to weaken
From technical perspective we should see the reflection from Resistance, yet i expect SNB to do what it takes to weaken CHF. They may succeed unless any black swans appar...
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