Franc Set for Landing. Forecast as of 09.08.2024

Mass closing of carry trades pushed the USDCHF pair 7% down from July peaks. The Swiss franc copied the Japanese yen, albeit on a smaller scale. Let’s discuss it and make a trading plan.Highlights and key points The USDCHF's collapse is due to the closing of carry trades. The SNB will unlikely intervene in the Forex market, although Swiss producers demand that. The probability of a key rate cut in September is high. The USDCHF risks continuing to rally towards 0.874 and 0.884.Weekly fundam