Swiss franc strengthened on Monday after the annual inflation rate in Switzerland jumped to 3.3% YoY in January, the highest reading since September 2022, from 2.8% in the prior month and above analysts' estimates of 2.9%, which should support the case for further SNB policy tightening. Pair may experience increased volatility ahead of tomorrow’s US inflation data that could reinforce the case for more Federal Reserve interest rate hikes.
From technical point of view, the pair broke below the local support at 0.9235, which is marked with previous price reactions, 23.6% Fibonacci retracement of the latest upward wave and 200 SMA (red line). As long as price sits below, downward move may deepen towards next major support at 0.9200, which coincides with the lower limit of the triangle formation, 50 SMA (green line) and 38.2% retracement.
USDCHF, H4 interval. Source: xStation5
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ข่าวเด่นวันนี้ 4 มี.ค.
🚨 EURUSD ปรับตัวลงลึกลง สู่โซนแนวรับสำคัญ
