#USDCHF @ 0.89840 bears in control below key resistance.
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- USD/CHF bears in control below key resistance.
- US Dollar offered as Fed bets of a hold are firm.
The US Dollar slid again on Thursday but remained near three-month highs although there are bets that the Federal Reserve, which may have more work to do to combat inflation, could indeed hold this month.
DXY, hit a 2-week low as the Federal Reserve is now expected to leave interest rates unchanged when its policy committee meets next week. The CME Fedwatch tool is seeing only a 25% probability that the central bank will raise rates again.
This leaves the USD/CHF hanging and well offered with more downside on the cards if the bears stay in control below resistance as the following illustrates:
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