Forex Flash: USD/CHF looks technically bullish – BBH
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - Brown Brothers Harriman Head of Global Currency Strategy, Marc Chandler notes that the Swiss Franc has been dragged higher by the Euro and is poised to continue to appreciate further against the dollar in the period ahead.
He believes that the dollar has carved out a round top, confirmed by the push through 0.9400. He notes that spot has tested 0.9280 and looks like it is on its way to 0.9200 where significant support can be found. The pairs 5 MA crossed beneath the 20 MA on Thursday last week, a day before the EUR equivalents did. He finishes by highlighting that technical indicators suggest that there is plenty of scope for additional near term USD losses.
He believes that the dollar has carved out a round top, confirmed by the push through 0.9400. He notes that spot has tested 0.9280 and looks like it is on its way to 0.9200 where significant support can be found. The pairs 5 MA crossed beneath the 20 MA on Thursday last week, a day before the EUR equivalents did. He finishes by highlighting that technical indicators suggest that there is plenty of scope for additional near term USD losses.
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