Every retracement (shown in orange color) is 61.8% of its preceding upswing (shown in blue color). USD/CHF is more likely to take out last high according to this harmony.
USD/CHF | Sep 19, 2019
Updated: Sep 20, 2019
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Updated: Sep 20, 2019
Every retracement (shown in orange color) is 61.8% of its preceding upswing (shown in blue color). USD/CHF is more likely to take out last high according to this harmony.
In current global environment of rate cut, SNB kept policy rate unchanged, which has been priced in as hawkish and bullish for CHF. But SNB has been selling CHF since its previous meeting; so the fall of USD/CHF post today's SNB-release, is more likely to be erased.