USD/CHF finished the day fairly unchanged as the market continues to run around in circles. The result is a small doji, but the move proved the 0.9000 level should continue to give reactions in this marketplace. The Swiss National Bank is still working against the appreciation of the Franc, so we are not willing to sell this pair under any circumstances. The breaking of the top of the Tuesday session would get us buying though, and is in line with the idea of the USD being a “safe haven” while the Franc is no longer allowed to be. With all of the negative headlines out there – it makes sense to us that the pair should continue to rise over time.
Written by FX Empire