USDCHF has reached a higher high zone of the uptrend line.
Let’s wait for the confirmation of reversal or breakout. US Dollar remains strong. USDCHF is bouncing up with strong buyers.
Instead of selling USDCHF, it’s better to wait for buying at the higher low zone of this uptrend line.
US Dollar climb higher
US House of representatives makes Votes on this Friday as Announced for a $1.9 Trillion Package.
This package helps the American people and Small Businesses.
US Dollar climbed higher after News released.
In the Fed’s semi-annual monetary policy meeting, Powell’s stated that “the economy is a long way from our employment and inflation goals”, and the Outcome of this testimony was more uncertain for US Dollar.
The unemployment rate remains high at 6.5% versus 3.5% at the Pre-pandemic level.
And the inflation rate now seems high and taper the asset purchases and more to recover the Jobless situation.
Americans employed was Plunged to 57.5% from 61%. Hence more Stimulus deployed is the only solution to overcome now Pandemic economy to Stable economy.
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