The USD/CHF pair fell a bit on Friday, but managed to find support at the 0.9000 level. The resulting candle was a hammer, and the market looks like it is ready to perhaps rise again. More comments out of the Swiss National Bank that it would do what was necessary to keep the value of the Franc down had much to do with the rise of this pair later in the session. The pair looks set to rise, if we can get above the highs from the Friday session. The breaking of the lows would be bearish, and could send us down to the 0.85 level.
Written by FX Empire