USD/CHF tumbles to 1-week lows amid risk aversion on trade war fears part 2
The America yield curve is once more inverted. The one0-year yield plummeted from 1.63% to 1.51%, near to YTD lows. In Wall Street, the Dow Jones is falling one.72% and therefore the National Association of Securities Dealers Automated Quotations two.39%.
Today’s event offset Powell’s speech in Jackson Hole and exaggerated expectations concerning a lot of charge per unit cuts from the central bank. relating to the dollar, the DXY is down zero.50%, reversing from monthly highs.
USD/CHF Bias currently pessimistic
From a technical perspective, USD/CHF stony-broke below the lower limit of associate degree ascendant channel and additionally beneath the zero.9770 support space. At the instant is testing zero.9740/45 and below here the not abundant till zero.9700/05. On the face zero.9770 has become the immediate resistance.
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