USD/CHF fell for most of the session as the Franc gained a bit in general during the European and Asian sessions. The 0.91 level is just below, and the support showed up in the form of a hammer on this daily chart. The pair is currently be supported by proxy as the Swiss National Bank is protecting a floor at 1.20 in the EUR/CHF pair. The bank could intervene in that market, and that would certainly make this one rise. Because of this, selling isn’t possible as nobody wants to be on the wrong side of that trade. Buying can be done the closer we get to the 0.91 level.
Written by FX Empire