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Dollar/Swiss Franc Breaks Above 1, Targeting 0.8291
Developing
In Short: The Dollar/Swiss Franc has broken above the 1 (100%) Resistance Arc, signaling a potential advance toward 0.8291.
Dollar/Swiss Franc has broken above the 1 (100%) Resistance Arc, confirming a bullish breakout within the current Arc Cycle, according to reports from FXStreet.
A sustained breakout above the Resistance Arc supports continued movement toward 0.8291, according to FXStreet.
However, the US Dollar has paused its hawkish Fed-inspired rally to its highest level since late July, with AUD/USD finding fresh buyers and retaking 0.7100 in the Asian session.
RBA rate-hike bets and hopes for US-Iran diplomatic efforts have lifted risk sentiment, supporting the risk-sensitive Australian Dollar and the major currencies.
The US Dollar has paused following the post-Fed rally to seven-week highs, while a more hawkish repricing of the BoJ's policy normalization path supports the Japanese Yen.
What's still developing
- Nothing material beyond the confirmed record.
Sources
- FXStreetlink