I’ve had a couple of questions today from folks looking to buy USD/CHF. To my mind, playing the cross might be the better way to go.
EUR/CHF has already put in a resounding technical bottom by overcoming resistance in the 1.3165 area while USD/CHF has yet to do the same. It would have to rally as high as 1.0280 before I’d feel comfortable calling a bottom.
At the same time you would be bucking the prevailing bearish dollar trend. That’s not to say it can’t be done, but it does make for a more anxiety-filled trading day than trading with the wind…
If bearish CHF, look to buy dips in the EUR/CHF to the 1.3165/75 area.
