USDCHF Analysis
USDCHF has broken the top level of the downtrend range.
After the breakout, the USDCHF has retested the broken level and bounces up with Buyers pressure.
This gives the confirmation of upward movement, USDCHF Buy signal has given
USDCHF has reached the take profit target successfully.
US Dollar Rises
US Dollar rises as Cases increases every day in the US and Europe, which makes more lockdown imposed and to control the pandemic.
US Treasury yields stabilizing makes US Dollar stronger in the short term. President-Elect Joe Biden has a huge sum of packages upcoming soon to deliver once he takes charge as a President of the United States on coming January 20, 2021.
As per the Investors view, the US dollar may fall after the release of 2000$ per month packages after getting Joe Biden as president.
US dollar turns lower as US 10 years yield dipped to downwards as demand increases more for treasury bonds.
FED tells anytime tapering bonds purchase program is possible if the economy becomes stable. Currently, $80 billion purchases of treasury bonds and $40 billion mortgages backed securities per month, if the economy recovers to normal mode these purchases may be reduced according to the situation.
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