Is EUR/USD in a correction phase?

The EUR/USD pair has been in a correction phase this week, finding support at the 1.10 level after facing selling pressure yesterday. As traders await the ECB's interest rate decision today, the pair's reaction to this support level remains crucial. Following the CPI data yesterday, the market has shifted its expectations for the Fed's next move.

Why did the Swiss franc continue to strengthen against the US dollar?

T he Swiss franc continued to strengthen against the US dollar and the euro as the mood among central banks continues changing and as demand for safe havens jumped. The USD/CHF exchange rate was trading at 0.8495 on Friday, down by almost 8% from its highest point this year.

Is the USD/CHF exchange rate a bearish trend?

USD/CHF chart by TradingView The daily chart shows that the USD to CHF exchange rate peaked at 0.9222 in May and has been in a strong bearish downward trend since them. The pair formed a death cross on June 30th as the 50-day and 200-day Exponential Moving Averages (EMA) have formed a bearish crossover.