Chart Of The Day: USD/CHF

Published 03/17/2021, 05:56 PM
Updated 07/09/2023, 06:31 AM

The USD came under pressure against every major currency following the FOMC announcement, as the Fed was more dovish than the market had anticipated. However, it also seems as if it is not worried about the recent move higher in yields, as this may be a representation of the economy building strength in the coming months. If that is the case, and yields continue to rise, the USD/CHF may be a "buy dip" trade below the .9200 level as we are looking at a possible bull flag pattern in the pair. USD/CHF has been highly correlated to the 10-year yields in recent weeks.

 

USD/CHF Daily Chart.

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