The USD/CHF pair continues to drift around the 0.88 handle as traders have abandoned shorting the Swiss Franc. The USD had a fairly poor day on Tuesday, and as a result, this pair didn’t move again. In a nutshell, this pair only has one direction in the near-term, and that’s up. The Swiss National Bank will make sure this pair doesn’t fall far, so selling isn’t a reasonable possibility. We like buying, but think the pair needs to rest a bit before the next leg up.
