USD/CHF fell during the Tuesday session as the Dollar lost ground against many of the other currencies around the world. The safety trade was off on hopes of a bailout coming to the EU via the IMF, and as a result the Dollar lost. However, the end of the day saw a bounce in this pair that formed a hammer – suggesting a rise in price from here. The breaking of the highs from Tuesday is a buy signal, and a closing on the daily chart above the 0.93 level has this turning into a long-term buy and hold trade. With the Swiss National Bank working against the Franc, we aren’t selling this pair at all.
Written by FX Empire