The Swiss central bank plans to cut interest rates
The Swiss central bank has been the first bank to cut interest rates and now, due to inflation control, it is expected that interest rates will be lowered for the consecutive time. As a result, this can weaken the Swiss franc.
From a technical point of view, USDCHF has formed a HEAD & SHOULDERS pattern in the one-hour time frame, and under the condition of maintaining the support of the NECK LINE in the range of 0.8833, it can rise to the 88.6% Fibo resistance at 0.8907.