USD/CHF fell for the Wednesday session as the Dollar got hit again. However, the 0.91 level came into play, and held up as support again. The area actually extends down to the 0.90 figure, and as a result we are not willing to sell at this point – even if the pair does look a bit weak.
The fundamentals for a weak Switzerland and the possibility of Swiss intervention against the value of the Franc make selling this pair almost impossible, and quite frankly – dangerous. The pair is a “buy only one, but we don’t have the supportive candlestick in which to do so from. Until we see a bounce or hammer – we are flat.
Written by FX Empire