USD/CHF PRICE OUTLOOK: US DOLLAR COULD FALL FURTHER AGAINST SWISS FRANCUSD/CHF may prolong its selloff as US Dollar draw back acc
USD/CHF PRICE OUTLOOK: US DOLLAR COULD FALL FURTHER AGAINST SWISS FRANC
- USD/CHF may prolong its selloff as US Dollar draw back accelerates with the forex pair treading water beneath key technical help ranges
- The traditionally unfavorable correlation of USD/CHF with EUR/USD and GBP/USD suggests weak point in spot USD/CHF value motion might proceed
- Obtain our free 4Q-2019 Forecasts & Trading Guidesfor complete basic and technical perception on the US Greenback
US Greenback promoting stress has accelerated over the previous few days and has despatched the DXY Index plunging below the 98.00 handle because the popularly refenced basket of main USD forex pairs takes a nosedive by means of main technical ranges. Latest draw back within the DXY US Greenback Index has been pushed major by an influx of Brexit deal optimism that has led to severe power in EUR/USD and GBP/USD, which mixed make up roughly 70% of the DXY Index.
USD/CHF PRICE CHART WITH EUR/USD & GBP/USD OVERLAY: DAILY TIME FRAME (AUGUST 15, 2018 TO OCTOBER 17, 2019)
Chart created by @RichDvorakFX with TradingView
As illustrated within the chart above, spot USD/CHF tends to carry an inverse relationship with spot EUR/USD costs. Additionally, the correlation between spot USD/CHF and spot GBP/USD seems to be returning to its usually unfavorable studying. That stated,there’s potential that the selloff…