USD/CHF fell during the session on Friday, but managed a bounce later in the session to print a hammer. This candle is at the top of a run, and looks like it is showing pressure to the upside at this point. The breaking of the recent highs in the 0.93 level would be massively bullish for this pair, and it would also make sense as the Swiss National Bank is working against the value of the Franc presently. The Dollar remains the safe haven trade, and as long as there are headline of gloom and doom coming out frequently, this pair really should rise overall. We like buying dips at this point.
Written by FX Empire