USDCHF Analysis
USDCHF has broken the bottom (higher low) of the major ascending channel and the market is consolidating now at the retest area in the 4-hour timeframe chart.
After the confirmtion of downtrend moverment, USDCHF sell signal given.
USDCHF reached the take profit target successfully.
US Dollar: a mixed bag of US Domestic data
US Dollar keeps rallying after US 10-year bonds rally up to 1.60% in last two weeks.
And also, US Retail sales data came at a 0.70% jumps from 0.20% expected, and Michigan consumer sentiment came at missed expectations makes more rally for US Dollar.
USDJPY soared to 6% from last 3-4 months, and USDCHF keeps 4% from the bottom, USDCAD makes lower 6% from highs in the past one month after CAD determination for a significant bull run.
And FED stated that tapering is on the table and hikes in 2022 is possible on last week FOMC meeting minutes.
Swiss Franc: US Dollar keeps stronger after Friday sales data
Swiss Franc remains higher as more deposits from foreign institutions and individuals park as safe investments.
SNB may do Forex intervention any time to cool off the CHF currency rate.
And domestic economy shows slower growth, but outstation funds inflows make CHF currency stronger.
US Dollar keeps increasing as FOMC meeting minutes last week stated that FED will be on the track of tightening stimulus spending and rate hikes in 2022.
And US 10-year yields reached 1.60% higher after US Domestic data performed well on Friday.
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