The USD/CHF rose during the Monday session as the 0.85 level continues to offer a psychological barrier for the sellers in this market. The pair is the inverse of the EUR/USD quite often, and as a result it rose as the EUR/USD fell. The Swiss National Bank is working against the rise of the Franc, so this move would certainly please them. The breaking of the daily candle from Thursday would be needed for us to get long again, as selling cannot be done with the present environment surrounding the SNB.
Written by FX Empire