USDCHF Chart Technical Outlook continues lower in the BC leg
DXY (USD Index) – stock indices have continued to climb after Powell’s speech last week. This has resulted in DXY pushing lower on outflows from safe-haven assets. Although we have seen a mild stalling in the selloff, I look for this negative sentiment to continue. Bespoke support is located at 103.63. We have the completion of a bullish Butterfly at 103.56. Prime intraday resistance is located at 105.20.
USD/CHF – although the pair have produced correction 9 counts, the upside moves have been limited. The prime target level for the BC leg in the Gartley formation is 0.8914