My bearish view on CHF pairs is well known to regular readers and the current turmoil in Ukraine is only adding to CHF demand as I highlighted in my week-end post.
USDCHF is the prime mover ( if you take out the GBPCHF volatility) and has dipped to 0.8852 from 0.8880 this morning. Currently 0.8864
Strong bids at 0.8850, as I have been reporting, with stops below which should see us test 0.8830. Further bids there and down to 0.8800.
This is a slow burner but there is little doubting that the rallies have been getting weaker and my sell rally mantra rings true still, but as always there will be a case for CHF sellers down here too.
USDCHF 24 Feb
EURCHF is failing to make new headway lower given the euro demand elsewhere but it’s rallies too have been limited. Demand at 1.2185 providing good support still with more bids at 1.2165 behind that. Offers all the way up to 1.2250
