USD/CHF on Cusp of Testing Monthly High
USD/CHF may attempt to retrace the decline from the December high (0.8821) if it clears the opening range for 2024.
USD/CHF Rate Outlook
USD/CHF is on the cusp of testing the monthly high (0.8577) as it registers a fresh weekly high (0.8566), with a break/close above the 0.8550 (78.6% Fibonacci extension) to 0.8590 (78.6% Fibonacci extension) region raising the scope for a move towards 0.8700 (61.8% Fibonacci extension).
A break/close above the 0.8770 (23.6% Fibonacci retracement) to 0.8800 (50% Fibonacci extension) area brings the December high (0.8821) on the radar, but failure to push above the opening range for January may push USD/CHF back towards the monthly low (0.8401).
USD/CHF Rate Outlook
USD/CHF is on the cusp of testing the monthly high (0.8577) as it registers a fresh weekly high (0.8566), with a break/close above the 0.8550 (78.6% Fibonacci extension) to 0.8590 (78.6% Fibonacci extension) region raising the scope for a move towards 0.8700 (61.8% Fibonacci extension).
A break/close above the 0.8770 (23.6% Fibonacci retracement) to 0.8800 (50% Fibonacci extension) area brings the December high (0.8821) on the radar, but failure to push above the opening range for January may push USD/CHF back towards the monthly low (0.8401).
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