The USD/CHF fell during the week, and is currently heading down towards the all-important 0.85 level. The area is the beginning of the Swiss National
The USD/CHF fell during the week, and is currently heading down towards the all-important 0.85 level. The area is the beginning of the Swiss National Bank’s intervention candle, and as such we feel that the pair should be supported in this area. We are looking for supportive candles in the 0.85 zone, and will wait until then to buy. We cannot sell – the SNB will make sure to punish those that do. A daily candle will do just as well as a supportive weekly one at the 0.85 level it should be said.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
