USD/CHF fell for the session on Tuesday as the Dollar got sold off in general. The “risk on” trade came back, but it is worth noting that the end of the US stock trading session saw a selloff that got rid of over half of the day’s gains. The USD/CHF pair did very much the same, as the Franc was sold off in the later hours.
The 0.95 level continues to attract investors, and the pair will certainly have a lot of resistance and support in the immediate area. However, as the trend continues higher, and the Swiss National Bank is actively trying to weaken the Franc, we feel that the USD should continue to rise in this market. As a result, we are buying dips on supportive candles.
Written by FX Empire