USDCHF falls sharply and rebound sharply on Isreal’s retaliation. What next?

The USDCHF fell sharply after the Israeli attack on Iran overnight. That move to the downside tested the broken 38.2% retracement of the move down from the 2022 high at 0.9025, and bounced as report of the extent of the attack were reported.

The subsequent reversal to the upside so the pair moved back up to target resistance at 0.9095 and find willing sellers. The pair has defined its technical trading range.

In this video I outline the moves and the technical levels in play and explain why.

This article was written by Greg Michalowski at www.forexlive.com.