USD/CHF fell on Wednesday as the markets were relatively quiet for the session. The pair is currently sitting just above the 200 day moving average, and the 0.91 to 0.90 support level. The 0.91 is also the 50% Fibonacci retracement level from the surge higher as well, so we have several reasons meeting at one point. The Swiss are working against the value of the Franc, and the Dollar is going to also get the safety bid. With all of the headline risks out there – it isn’t a real stretch to imagine the Dollar getting a bid on some poor headlines. Because of this, we are buying this pair.
Written by FX Empire