USDCHF moves towards swing zone/retracement target

USDCHF Looks to Test the Swing Zone and Retracement Zone

As the dollar continues to rise (new highs against the EUR, GBP, JPY are all reached), the USDCHF

USD/CHF

USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 0 pip to 2 pip. on most forex brokers. Even though the Swiss Franc may not be as liquid as the Euro or the Yen, the USD/CHF currency pair is still liquid enough to be known as the fourth major currency. Trading USD/CHF has its pros and cons. The main advantage being that many traders often prefer to invest in the Swiss franc in the event of economic or political instability. This is because Switzerland has traditionally been known as a safe haven, as it generally remains neutral and silent on many major geopolitical events. , for example he never participates in wars. These investments can trigger big swings for traders, who can capitalize on these moves. The main disadvantage is that the US dollar is the world’s reserve currency. So traders can also flock to the USD, trying to figure out which currency is most likely to be engaged can sometimes be difficult. USD/CHF still lives in the shadow of 2015 USD/CHF is otherwise considered one of the least volatile pairs, with a tendency to follow the Euro, hence the negative correlation between it and EUR/USD. The currency pair will forever be tied to the events of January 2015 with the Swiss National Bank (SNB) crisis that rocked the currency markets. In this case, the SNB abruptly decided to abandon the currency peg of the Swiss franc (CHF) to the euro, shaking the markets.

USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 0 pip to 2 pip. on most forex brokers. Even though the Swiss Franc may not be as liquid as the Euro or the Yen, the USD/CHF currency pair is still liquid enough to be known as the fourth major currency. Trading USD/CHF has its pros and cons. The main advantage being that many traders often prefer to invest in the Swiss franc in the event of economic or political instability. This is because Switzerland has traditionally been known as a safe haven, as it generally remains neutral and silent on many major geopolitical events. , for example he never participates in wars. These investments can trigger big swings for traders, who can capitalize on these moves. The main disadvantage is that the US dollar is the world’s reserve currency. So traders can also flock to the USD, trying to figure out which currency is most likely to be engaged can sometimes be difficult. USD/CHF still lives in the shadow of 2015 USD/CHF is otherwise considered one of the least volatile pairs, with a tendency to follow the Euro, hence the negative correlation between it and EUR/USD. The currency pair will forever be tied to the events of January 2015 with the Swiss National Bank (SNB) crisis that rocked the currency markets. In this case, the SNB abruptly decided to abandon the currency peg of the Swiss franc (CHF) to the euro, shaking the markets.
Read this term is also part of this group.

Looking at the hourly chart, the pair moved above its 200 hourly moving average at 0.92802. This was the first breakout since March 29. The price has since risen to test the 38.2% decline from the March 16 high at 0.92955. This retracement is between a swing zone (see red numbered circles) between 0.9293 and 0.92964.

The level group increases the importance of the zones. Move above and traders will look to another swing zone between 0.9313 and 0.93194 and above the 50% retracement of the same move lower at 0.93268.

Stay below the swing zone and the trade could resume price for another test of the 200 hourly MA at 0.92802. Get back below the 200 hour MA and something happens. The price should not go back below this level if the breakout is “for real”.

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