Forex Flash: A technical look at USD/CHF – BBH
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - Global Head of Currency Strategy at Brown Brothers Harriman, Marc Chandler has taken a technical look at USDCHF for the week ahead.
He notes that the dollar appears to be breaking out to the upside against the Swiss Franc and the prospects of a new trending market appear to be drawing fresh interest in the currency after the central bank's cap successfully defeated speculative attention. He feels that a move now above 0.95 would seem to confirm a significant low has been carved out and "the greenback can move into the 0.96-0.97 range before being seriously challenged." He finishes by noting that it would require a close below 0.94 to negative this constructive technical outlook.
He notes that the dollar appears to be breaking out to the upside against the Swiss Franc and the prospects of a new trending market appear to be drawing fresh interest in the currency after the central bank's cap successfully defeated speculative attention. He feels that a move now above 0.95 would seem to confirm a significant low has been carved out and "the greenback can move into the 0.96-0.97 range before being seriously challenged." He finishes by noting that it would require a close below 0.94 to negative this constructive technical outlook.
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