The U.S. dollar slipped lower in early European trade Monday, heading for its first monthly drop in five months as a calmer risk environment and raised expectations of a pause in the Federal Reserve’s tightening cycle weighed.
Technically, the USDCHF staus is oversold. The market is triggering a short term upturn, a breakout over the 0.9630 swing high signals a stretch to 0.9680, when broken 0.9760. Minor corrective dips should only last 1-2 days at this stage of the drive and likely fight to rebound from 0.9530.
Resistance 2 0.9615
Resistance 1 0.9588
Support 1 0.9552
Support 2 0.9530
Last Updated Date: 30 May 2022 @ 7:20 AM (UTC)
*Please note that all the dates are in GMT time zone
