The USD/CHF pair had a very back and forth session on Tuesday as the market simply didn’t have much of a direction overall. The pair is currently in a the support zone that we have been watching lately, and are still waiting to see if we get that supportive candle that compels us to buy. With the Swiss National Bank working against the Franc overall, we are not keen to sell this pair, even with the obvious bearishness of the latest moves. Intervention in the EUR/CHF pair would spill over into this market as well, and we don’t want to be on the wrong side of an intervention. With this in mind, we currently wait.
Written by FX Empire