USDCHF reverses course in trading today: Short-term technical bias shifts a bit to upside
The CHF was the strongest of the major currencies in 2023. Now that move was led by the CHFJPY which showed a 18.20% move, but the USDCHF also moved 8.94% in favor of the CHF (USD lower). Today is a reversal of 2023 type of day. US stocks are lower especially the Nasdaq index which gained 43% last year. US yields are higher with the 10 year up around eight basis points after declining into December. For the USDCHF is seeing a rebound after the sharp declines seen last year.In this video I take a look at the USDCHF from a technical perspective and outline the bias shift and what needs to happen technically to increase the short term bullish bias. This article was written by Greg Michalowski at www.forexlive.com.
The CHF was the strongest of the major currencies in 2023. Now that move was led by the CHFJPY which showed a 18.20% move, but the USDCHF also moved 8.94% in favor of the CHF (USD lower).
Today is a reversal of 2023 type of day. US stocks are lower especially the Nasdaq index which gained 43% last year. US yields are higher with the 10 year up around eight basis points after declining into December. For the USDCHF is seeing a rebound after the sharp declines seen last year.
In this video I take a look at the USDCHF from a technical perspective and outline the bias shift and what needs to happen technically to increase the short term bullish bias. This article was written by Greg Michalowski at www.forexlive.com.
