USD/CHF Price Analysis: Surges from 0.8900 ahead of SNB’s policy

The USD/CHF pair recovers strongly from the round-level support of 0.8900 and jumps to near 0.8930 in Monday’s early New York session. The Swiss Franc asset strengthens as US Dollar (USD) clings to gains and the uncertainty over the Swiss National Bank’s (SNB) policy outcome.

Sentiment is: Positive

Technical Analysis

The breakout of USD/CHF through the 0.8900 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, USD/CHF could test 0.8874 within the next 18 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.

USD/CHF - support line broken at 2024-06-17T22:45:00.000Z

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