The USD/CHF pair traded in a fairly tight range on Wednesday as the market grappled with the Greek austerity vote. The Franc lost some strength overall in the marketplace, but towards the end of the day it started to see a small bid. Because of this, we fell the trend isn’t threatened at all, and the Franc should continue to appreciate overall. The pair looks like it is finding support at 0.83, but we feel that the 0.85 level is massive resistance. We look for rallies to sell. A break to new lows gets us short this market as well.
Written by ForexMansion.com