USDCHF Consolidation Anticipates Pullback Before Continuing Downtrend
chart by ICM.com
Chartist Trader
6/20/20241 min read
USDCHF has been consolidating for the past two days within a downtrend. Anticipate a potential pullback due to today's monetary policy release before the market resumes its downward trajectory, aligning with the current trend on the H1 timeframe.
The Swiss National Bank is notorious for its surprises, and when it cut its interest rate in March, it was certainly not expected by the market. Today, the expectation is for them to keep rates on hold at 1.5%, but with inflation under control and limited expansion of GDP, a further surprise should never be ruled out with the SNB.
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