The USD/CHF pair rose on Friday as traders continue to worry about debt issues in the EU, and run to the Dollar. The pair has made a new high, and as a result should move much higher. The breaking of the 0.93 signals a trend change to the upside longer-term if it sticks, and suggests we will see 0.95 and maybe even parity before too long. We like buying the dips as long as we are worrying about the EU – which could be some time. The Swiss will certainly cheer the market along as this pair rises too – so no worries there. Selling isn’t even a thought at this point.
Written by FX Empire