USD/CHF rose during the session on Tuesday as it has been doing lately. The pair has seen a lot of strong buying come into the market since bouncing from the 61.8% Fibonacci level, and the pair looks primed to go higher. However, we are still in the middle of resistance, and as a result we can’t buy here. In fact, we are waiting for a pullback to get involved in as we believe the pair is going to 0.95, if not parity. Selling isn’t a thought as the Swiss National Bank is watching the value of the Franc far too closely.
Written by FX Empire