Chart of the Day: USD/CHF Stalls, Breakdown Looks Imminent
Forex Analytix | Aug 02, 2023 02:50AM ET
The USD/CHF stalled ahead of the .8800 level breakdown point and at the 38% retracement at .8781. While below the .8800 level, the risk is for a move back toward the .8551 trend low.
This is considered a continuation of the downtrend and descending channel. The Fitch downgrade of US debt should assist in the fall and for the Swiss Franc to gain as a safe haven currency.
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