On Monday (June 2), the dollar continued to fall against the Swiss franc. Switzerland's GDP growth in the first quarter exceeded expectations. At the same time, the dollar continued to weaken, pushing the safe-haven currency Swiss franc to further strengthen.
Fundamental analysis
Switzerland's economic growth is mainly driven by strong exports, especially exports to the United States.
At the same time, the manufacturing industry performed particularly well. Trade, auto repair and other industries have grown significantly, showing that the economic recovery is in full bloom. Provide strong support for the Swiss franc.
Technical analysis:
The daily chart shows that the dollar fell below the key support level of 0.82 against the Swiss franc and is currently seeking support near 0.819. The MACD indicator is running below the zero axis, and the overall bearish pattern is maintained. The RSI indicator shows that the 14-day RSI is 40.2815, which is in a weak area but has not yet entered the oversold range. The key support levels are 0.8156, 0.8100 and 0.8039; the resistance levels need to pay attention to 0.82, 0.8270 and 0.836. If the exchange rate falls below the 0.8100 integer mark, further downward space may be opened.
Short-term trend decomposition: If the US economic data is weak or the Fed officials make dovish remarks, the exchange rate may further test the 0.8100 support. On the contrary, if the data strongly boosts the US dollar, the exchange rate is expected to rebound and test the 0.8270 resistance. Analysts believe that the medium-term downward trend of the US dollar against the Swiss franc is clear, and unless there is a major change in the Fed's policy stance, the exchange rate is expected to remain weak.
XAUUSD GOLD XAUUSD XAUUSD XAUUSD GOLD XAUUSD
Fundamental analysis
Switzerland's economic growth is mainly driven by strong exports, especially exports to the United States.
At the same time, the manufacturing industry performed particularly well. Trade, auto repair and other industries have grown significantly, showing that the economic recovery is in full bloom. Provide strong support for the Swiss franc.
Technical analysis:
The daily chart shows that the dollar fell below the key support level of 0.82 against the Swiss franc and is currently seeking support near 0.819. The MACD indicator is running below the zero axis, and the overall bearish pattern is maintained. The RSI indicator shows that the 14-day RSI is 40.2815, which is in a weak area but has not yet entered the oversold range. The key support levels are 0.8156, 0.8100 and 0.8039; the resistance levels need to pay attention to 0.82, 0.8270 and 0.836. If the exchange rate falls below the 0.8100 integer mark, further downward space may be opened.
Short-term trend decomposition: If the US economic data is weak or the Fed officials make dovish remarks, the exchange rate may further test the 0.8100 support. On the contrary, if the data strongly boosts the US dollar, the exchange rate is expected to rebound and test the 0.8270 resistance. Analysts believe that the medium-term downward trend of the US dollar against the Swiss franc is clear, and unless there is a major change in the Fed's policy stance, the exchange rate is expected to remain weak.
XAUUSD GOLD XAUUSD XAUUSD XAUUSD GOLD XAUUSD 
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Good at solving all trading problems, doubling the account in a week, and making a stable profit of 300% in a month
🚀Private VIP: t.me/HenryDovitt
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👍Market exclusive signal: t.me/Henryffjyfylffc108
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.