USD/CHF plummets in the mid-North American session on Friday after an employment report in the United States (US) could mark the end of the Federal Reserve (Fed) tightening cycle.
USD/CHF drops sharply, signaling potential end to Fed's rate hikes with investors favoring CHF. Pair's fall below the 50 and 200-day moving averages at 0.9000 could lead to further declines. For recovery, USD/CHF needs to breach 0.9000, targeting the November 1 high at 0.9112. Therefore, the US Dollar remains offered, as investors piled into the Swiss Franc , as shown by the pair trading at 0.8979, down 0.87%.
9000 figure – the confluence of the 50 and 200-DMAs- so they could remain hopeful of challenging the November 1 high at 0.9112, ahead of challenging the May 31 high at 0.9147. Up next would be the 0.9200 psychological level. USD/CHF Price Chart– Daily USD/CHF Technical Levels USD/CHF Overview Today last price 0.8982 Today Daily Change -0.0078 Today Daily Change % -0.86 Today daily open 0.906 Trends Daily SMA20 0.9013 Daily SMA50 0.8998 Daily SMA100 0.8899 Daily SMA200 0.
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