USD/CHF rose again during the Friday session and even broke to a new high. The pair formed a shooting star for the session, but has been impressive over the last several months as it continues to grind higher. The pair is signaling a possible pullback, and we would welcome that as an opportunity to buy this positive market. The Dollar will continue to get a bid, and the Swiss Franc isn’t favored at all as the SNB is working against it, and the Swiss have the misfortune of sending over 80% of their exports to the European Union. With this in mind, we like buying on pullbacks as this pair should eventually get to parity.
Written by FX Empire