The USDCHF is continuing his rotation to the downside after falling sharply yesterday on hopes for peace in the Middle East, lower rates, and some dovish comments from FOMCs Bowman.

The selling pressure continued today after the official cease-fire was announced between Israel and Iran. The pair has now moved back below the low price from last week at 0.8088 and looks toward the June low at 0.80554. The low price from April is the low price for the year and 0.80386 and is also key target for traders. Getting below that level would take the pair to the lowest level since 2011.

The sellers in the USDCHF are more in control. Find out about the key technicals driving this currency pair in the video above.

USDCHF
Source: Forex Live