The USD/CHF pair rose slightly on Wednesday, but still failed to break above the 0.8000 level – a level that has been massively resistive over the last couple of weeks. Until we get an announcement out of the Jackson Hole central bankers retreat, it is very likely that this pair sits still as the Swiss National Bank is currently sitting below, and is willing to step into the market and put pressure on the Franc. However, unless there is QE3 being announced on Friday – the upside will be limited as well.
Written by FX Empire