USD/CHF 4H chart: Decline could continue

The US Dollar has declined by 171 pips or 1.87% against the Swiss Franc since last week's trading sessions. The currency pair was pressured lower by the 50– period simple moving average. Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, sellers are likely to continue to pressure the exchange rate lower within this week's trading sessions.

However, the weekly support level at 0.8950 could provide support for the USD/CHF currency exchange rate this week.


EUR/GBP 4H chart: Bears could prevail

The common European currency has edged lower by 120 pips or 1.38% against the British Pound since May 1. The currency pair breached the 50– and 200– period SMAs during this week's trading sessions.

Everything being equal, the exchange rate could continue to edge lower during the following trading sessions. The potential target for bearish traders could be near the 0.8400 level.

However, the weekly support level at 0.8550 might provide support for the EUR/GBP currency exchange rate in the shorter term.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD holds above 1.21 as tensions mount ahead of the Fed

EUR/USD is trading above 1.21, in limited, typical, pre-Federal Reserve trading. Markets await the bank's dot plot and Chair Powell's comments on potential tapering of the Fed's bond-buying scheme. 


GBP/USD hovers around 1.41 after strong UK CPI

GBP/USD is trading around 1.41, rising after the UK reported an annual inflation rate of 2.1% in May, beating estimates and raising the chances of a BOE rate hike. The focus remains on the Federal Reserve's decision later in the day.


XAU/USD remains confined in a range near $1,860 level, FOMC awaited

Gold lacked any firm directional bias and remained confined in a narrow trading band through the first half of the European session on Wednesday.

Gold News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. Shiba Inu has had a difficult time recovering, suggesting that it may soon face rejection. In the following video, FXStreet's analysts evaluate where SHIB price could be heading next as Shiba Inu gets weaker.

Read more

Federal Reserve Preview: First up, then down? Playbook for trading the Fed

To taper or not to taper? That is the question for markets ahead of the Federal Reserve's all-important June meeting. Fed Chair Powell will likely shoot down any talk of tapering the bank's bond buys. Highly volatile trading could see the greenback first drop.

Read more