A webinar held on Monday set out a bullish view on the US dollar after US yields moved higher following the Federal Reserve rate rise on 9 September. The discussion focused on long-USD opportunities across several pairs, with USD/CHF taking centre stage. The Swiss National Bank was presented as less hawkish than other major central banks and has said it remains willing to intervene in the FX market if the Swiss franc strengthens excessively, while the Fed has indicated further rate increases may still be required.
Technical Levels And Elliott Wave Analysis
Attention centred on 0.8200, described as the 5 August high that was breached before USD/CHF retraced in three waves to retest the level. The 0.8155–0.8200 support zone was framed as former resistance turning into support, reinforced by an Elliott Wave read in which the recovery from the lows was impulsive and the pullback corrective. The analysis anticipated further upside into wave three and later a potential wave five, with price already pushing to new highs after reacting from that yellow-box zone. A further live webinar was promoted for Monday, 28 September at 15.00 CET.
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