USD/CHF Technical Analysis October 3, 2011

USD/CHF rose on Friday as the “safe haven” trade came back into vogue. The Franc is no longer a safe haven currency since the Swiss National Bank is working against the value of it, and the USD will by default become the preferred safety currency. The pair can only be bought at this point, and we think that a longer-term trade could be in the cards for this pair as a result. We buy on dips, and will not sell.

Written by FX Empire