The US Dollar (CURRENCY:USD) has come under pressure lately. But the currency pair of the US Dollar vs Swiss Franc (CURRENCY:CHF) is testing a key trading level.
Could this provide clues about the US Dollar’s next move?
As you can see in the chart below, there is a chance that the US Dollar (vs the Swiss Franc) firms up here. There have been 3 drives lower to a bottom (classic price movement), an AB=CD move lower, and cycles formed in unison.
The question now is whether this support confluence will hold. And will this price area hold the key to the US Dollar’s next big move?
US Dollar vs Swiss Franc (USD vs CHF) Currency Trading Chart
Thanks for reading.
Twitter: @BartsCharts
Author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
