USD/CHF fell slightly on Wednesday as traders sold the USD in general. However, the pair cannot be sold because of the Swiss National Bank and its “peg” to the EUR. Because of this, the bank is willing to sell the CHF against any currency and in unlimited supply. The 200-day moving average is just under the current level and should be somewhat supportive. The 0.85 level starts a support zone down to 0.83 or so. We feel any supportive candles in this area are a massive buy signal in this pair. Until then, we are simply waiting.
Written by FX Empire