The USD/CHF pair fell a bit on Wednesday, but managed to recover some of its losses towards the end of the session. The pair is being supported by the threat of Swiss National Bank intervention, and as such we have been saying that we prefer to buy dips. If you listened to this advice during the session, you should be profitable. The 0.9000 level above will more than likely cause a bit of resistance, but we feel it is only a matter of time before this pair climbs above it as the Dollar is the only “safety currency” left as the Franc is being worked against, as well as the Yen. We like buying dips still.
Written by FX Empire