The USD/CHF pair rose on Wednesday as the resistance level at 0.9250 gave way. The level is the point we needed to see cleared to believe the recent consolidation has been broken through, and as it has happened, we are looking to buy this pair on a break of the highs from the Wednesday session.
The trend is being supported by the Swiss National Bank in the form of a capped value of the Franc. The US dollar continues to be wanted, and as such we are willing to go with what should continue to be the story: A growing US economy, and a Swiss economy that is forced to sell to Europe – a place with real troubles.
Written by FX Empire