The USD/CHF pair took off Wednesday during the session as the failure of Ben Bernanke to mention another round of quantitative easing got the markets a little bit spooked. The “risk on” rally has been fueled by easy and cheap money, and any signs that it is going away could have serious consequences to the stock and futures markets. The pair is also being buoyed by the SNB in the form of a floor in the EUR/CHF pair, so this is a buy only pair at this point. We like buying a break of the highs from the Wednesday session.
Written by FX Empire