The USD/CHF finally saw action after several sessions of sideways trading and jumped above the 100-day Simple Moving Average (SMA) of 0.8880. Despite
In line with that, the US DXY index rose to highs since March near 104.80, which a cautiouscould explain as investors await fresh catalysts on a quiet session. Regarding the next Federal Reserve decisions, bond yields are trading neutral, with mild gains. At the same time, the World Interest Rates Probabilities tool indicates that market participants are still seeing some probabilities of a 25 basis point hike for the remainder of the year, which would take rates to 5.75%.
On the CHF side, the Swiss Q2 Gross Domestic Product was reported on Monday to have remained steady and failed to live up to the expectations of a 0.1% increase expected by the markets, which also explains the upward movements of the pair.presents a neutral to bullish outlook, with the bulls recovering and gaining momentum. The Relative Strength Index has a positive slope above its midline, while the Moving Average Convergence histogram prints bigger green bars.
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