The USDCHF is showing some interesting signs that a rebound could be on the horizon. Looking at the weekly chart, it's clear that the pair has been under considerable selling pressure—it's not only dipped below the 20-period and 60-period EMAs, but it's also trading in territory that historically marks previous turning points. When USDCHF reaches these oversold levels, there's often a technical bounce as sellers run out of steam and bargain-hunters step in.
Another point worth highlighting is the Fibonacci retracement. The technicals suggest a key rebound target around the 0.8535 level, which aligns with the 50% retracement from the last major swing down. This area isn't just a mathematical target—it also coincides with previous congestion and resistance zones, making it a logical place for bulls to aim for. So, with prices oversold, historical patterns favoring a longer rebound, and a clear technical target overhead, the pieces are falling into place for a USDCHF recovery heading into the autumn months.
Another point worth highlighting is the Fibonacci retracement. The technicals suggest a key rebound target around the 0.8535 level, which aligns with the 50% retracement from the last major swing down. This area isn't just a mathematical target—it also coincides with previous congestion and resistance zones, making it a logical place for bulls to aim for. So, with prices oversold, historical patterns favoring a longer rebound, and a clear technical target overhead, the pieces are falling into place for a USDCHF recovery heading into the autumn months.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.