USDCHF Analysis
USDCHF reached the higher low area of the Ascending channel and the horizontal support zone.
USDCHF Update
USDCHF broke the higher low area of the ascending channel, which leads to the SL price. However, USDCHF still has a chance to rebound from the next support zones.
Reason: Due to the release of more economic news mentioned below, the market is not making technical movements at this time.
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U.S. credit downgrade + rising debt scare investors; China dumping U.S. assets worsens dollar weakness.
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China leads de-dollarization, trading in yuan with partners like Russia; reduces global dollar demand sharply.
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Fed plans rate cuts – meanwhile, China’s economic rebound attracts investors, pulling capital away from U.S. assets.
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