I've been following the fall of this USDCHF (greater than 500 pips) throughout the month of March on the H4:
The main driver of this fall is presumably the hope that the markets have lost on almost any US interest rate climbs in April. This week, the FED moments came out, and they showed some -gentle - intention to never close the door June. Should you think about what 2 wage increase reports in a row may perform to expectations of a hike... All sorts of rumors could fire off, expectations could grow, and we can observe that the Franc use that momentum to retrace to a comfortable 0.98 - 0.99 range:
This is the H4:
This is the identical range from the D1:
To believe that the US will present fantastic numbers in the future isn't far fetched in any way, if anything, the weaker dollar could have aided the exports, and foreign sales in Q1.
Anyone Taking a Look at the USDCHF from this angle?