Mar. 24, 2023
After closing the previous trading day at 0.9162, Dollar-Swiss is up to 0.9171, which makes for a move of 0.1%/8 pips today.
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Dollar-Swiss's lower Bollinger Band® is at 0.9119, indicating that the market is oversold and fertile for new buyers.
With market volatility ebbing, the current technical outlook indicates Dollar-Swiss will remain range-bound for the immediate future.
While Dollar-Swiss is up today, these currencies are lagging behind: EUR/JPY is down to 141.18, losing 49 pips, after closing at 141.68 in the preceding trading session. GBP/JPY closed at 160.12 (down 0.35%). USD/JPY is down 31 pips from the beginning of the session and now trades around 130.47.