USDCHF - Bearish - Return to the trendline
Last week, USDCHF continued its rebound and reached 0.8804, but it was unable to breach the 0.8818 resistance level.
The price is bearish on the H4 timeframe, and there is also a FVG observed in this area. A potential return to the trendline is highly possible.
Meanwhile, the Swiss Franc struggles to gain strength despite a stable Unemployment Rate for July. The monthly jobless rate stays unchanged at 1.9%, even with the Swiss National Bank raising interest rates.
Market sentiment becomes bearish ahead of the release of the United States Consumer Price Index (CPI) data scheduled for Thursday.
The price is bearish on the H4 timeframe, and there is also a FVG observed in this area. A potential return to the trendline is highly possible.
Meanwhile, the Swiss Franc struggles to gain strength despite a stable Unemployment Rate for July. The monthly jobless rate stays unchanged at 1.9%, even with the Swiss National Bank raising interest rates.
Market sentiment becomes bearish ahead of the release of the United States Consumer Price Index (CPI) data scheduled for Thursday.
Trade closed: target reached:
Hit 8 aug ✅