The USD/CHF pair fell slightly during the Thursday session as the 0.8000 level continues to be massively resistive. The Swiss National Bank is below, and willing to support this pair by weakening their own currency. The Jackson Hole announcement coming out later today could provide this pair some direction, especially if QE3 is announced. A weakening of the USD in that aspect would almost undoubtedly overwhelm the SNB in this pair, and it would tank as a result. If there is nothing interesting in the announcement, look for this pair to continue to move sideways.
Written by FX Empire