The USD/CHF pair had a volatile day on Friday, just to end up unchanged. This pair is currently consolidating above the 0.90 to 0.91 level that has been so supportive lately. The Swiss are certainly going to feel the economic strain coming out of Europe, and as a result we like owning this pair. However, we haven’t seen the supportive work come up with bullish candles yet. A break of the Wednesday high would be a good sign, and as hammer or engulfing candle as well would work. We are not selling this pair at the moment as the Swiss National Bank could get involved if the Franc’s value rises too quickly. (Mainly out of the EUR/CHF pair.)
Written by FX Empire