According to Jinshi, a study of the performance of USD/CHF in June every year since 2000 shows that USD/CHF has recorded declines in June in 18 of the past 24 years, accounting for 75%. In addition to seasonal factors, there are two other factors that may lead to the decline of USD/CHF. One is that Swiss National Bank President Jordan believes that there is a "small upside risk" to the central bank's inflation forecast, which casts doubts on the June rate cut, which in turn supports the Swiss franc. The other is that the rise of USD/CHF in May swayed before the Fibonacci retracement level of 0.9240, highlighting the potential bearish market structure. This technical weakness has spread to June and is likely to continue in the coming weeks.
