USD/CHF is approaching to the parity level with the index of the u.s. dollar, moving below 100

As the Dollar Index continues to move so bearish on the american session, the pair USD/CHF accelerated its bearish momentum towards the parity level is significant. At this time, the torque has been reduced by 0.35% to 1.0015.

The bearish momentum seems to be mainly driven by the increasing selling pressure around the dollar. On Friday, consumer inflation in the united States registered a fall after climbing for thirteen consecutive months.

The weakness of inflation seems to have taken a pause in the expectations of rising rates of June. The CME Group FedWatch shows the probability of a rate hike in June now at 46.5%, which has moved above 60% last week. The index of the USD Dollar was down 0.57% on the day at 99.92.

Technical perspective

With a break below 1.0000 (psychological level), the pair could extend the fall towards 0.9970 (DMA 200) and 0.9920 (march 21).

On the positive side, the resistances are lined up at 1.0060 (DMA 100), 1.0100 (psychological level/10 April) and 1.0160 (9 march).

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