The CHF was the strongest of the major currencies in 2023. Now that move was led by the CHFJPY which showed a 18.20% move, but the USDCHF also moved 8.94% in favor of the CHF (USD lower).
Today is a reversal of 2023 type of day. US stocks are lower especially the Nasdaq index which gained 43% last year. US yields are higher with the 10 year up around eight basis points after declining into December. For the USDCHF is seeing a rebound after the sharp declines seen last year.
In this video I take a look at the USDCHF from a technical perspective and outline the bias shift and what needs to happen technically to increase the short term bullish bias.
This article was written by Greg Michalowski at www.forexlive.com. Source