(VIANEWS) - USD/CHF retraces from a six-week high of 0.8876, drops as sellers outpaced buyers, as US Treasury bond yields dropped after the US Federal Reserve Chair Jerome Powell speech. At the time of writing, the USD/CHF is trading at 0.8838, down 0.06%.
FXStreet reported that from a technical standpoint, the USD/CHF clashed with a five-month-old downslope resistance trendline, reaching a new six-week high, but has retraced, trimming its earlier gains and turning negative, so far in the day, about to form a 'gravestone-doji' which would suggest further downside expected.
USD/CHF (USDCHF) has been up by 1.54% for the last 21 sessions. At 09:35 EST on Monday, 28 August, USD/CHF (USDCHF) is $0.89.
Usd/chf retraces from a multi-week high, holds above 0.8840, eyes on swiss cpi/ US NFP
This may benefit the traditional safe-haven Swiss Franc and act as a headwind for the USD/CHF pair. , The USD/CHF pair retraces from a multi-week high of 0.8876 amid the decline of US Treasury bond yields during the early Asian session on Monday.
Usd/chf kicks off the week in a negative mood, trades below 0.8850
Indeed, USD/CHF lost momentum after hitting a weekly high at 0.8876 on Friday amid the pullback in United States (US) Treasury yields. , These datasets have the potential to offer new insights into the broader economic prospects, aiding traders in gaining a clearer perspective on the USD/CHF pair.
Usd/chf rebounds as investors expect one more interest rate hike from fed in 2023
The USD/CHF pair finds support after a correction near 0.8820 as chances of one more interest rate hike by the Federal Reserve (Fed) deepened.
USD/CHF's yearly highs and lows, it's 3.472% up from its 52-week low and 12.782% down from its 52-week high.
Volatility
USD/CHF's last week, last month's, and last quarter's current intraday variation average was 0.04%, 0.09%, and 0.35%, respectively.
USD/CHF's highest amplitude of average volatility was 0.32% (last week), 0.23% (last month), and 0.35% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, USD/CHF's Forex is considered to be oversold (<=20).
Previous days news about USD/CHF (USDCHF)
- Usd/chf price analysis: bears moved in around 0.8780s, dragging prices lower. According to FXStreet on Saturday, 26 August, "From a technical standpoint, the USD/CHF clashed with a five-month-old downslope resistance trendline, reaching a new six-week high, but has retraced, trimming its earlier gains and turning negative, so far in the day, about to form a 'gravestone-doji' which would suggest further downside expected."
- Usd/chf price analysis: bears moved in around 0.8780s, dragging prices lower. According to FXStreet on Saturday, 26 August, "From a technical standpoint, the USD/CHF clashed with a five-month-old downslope resistance trendline, reaching a new six-week high, but has retraced, trimming its earlier gains and turning negative, so far in the day, about to form a 'gravestone-doji' which would suggest further downside expected."
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