USDCHF → Dollar rebound changes the local situationFX:USDCHF after a shakeout returns to range resistance amid the current downtrend. The dollar index is rising and many don't realize what's going on....
DXY failed to overcome the critical and psychological level of 100.0. The yield on 10-year US government bonds did not fall after the rate cut, but even rose to 3.74% from 3.6%. Strange divergence between currency market expectations of rate cuts and debt market expectations of rising yields. The expectations of traders/investors on the background of interest rate cuts did not come true and in the future we should expect a deeper rebound of the dollar considering the fact that GDP data and Powell's speech are ahead.
The currency pair is currently forming a local resistance at 0.8517, the breakdown of this zone will give an impulse to the trend resistance, which will determine the further situation. Either the rebound or the price will go higher, to deeper zones of interest.
Resistance levels: 0.8517, 0.856, 0.8616
Support levels: 0.843, 0.837
The trend can be considered broken and confirmed bullish after the price fixation above 0.875, currently bearish. It is worth forming your strategy on this fact
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCHF ;)
Regards R. Linda!
