USDCHF has needed no excuse to rally this morning as EURUSD drops and EURCHF stays pinned around 1.2190.
Carbon copy of last Thursday’s price action post-ECB so it’s reasonable to expect we’ll see those 0.9036 highs again ahead of the strong offers at 0.9040-50 having already chewed through the orders at 0.9000
Currently 0.9002 and with a 200DMA at 0.8977 that would signal a move higher if we can close above. I’m on the sidelines on this pair at the moment but will look to sell any rally to 0.9030-40 and take a fresh look above 0.9060. Good support now around 0.8960-65.
Much will yet depend on how far this EURUSD attack continues with last Thursday’s 1.3500-05 base a line in the sand still.
USDCHF 4 HR 10 June
