Generally, I’m not a fan of trading this pair because it’s essentially two trades: 1) betting on the SNB efforts to weaken CHF vs EUR 2) betting on the euro to weaken. But for those wishing to double-down on those two ideas, a long in USD/CHF is also sending some convincing technical signals.
There was an outside week that is now continuing to push to the upside and threatening last week’s high of 0.8960. Beyond that, a break of 0.9000 should pave a convincing path back to 0.9300 and beyond. The shorter-term charts are showing a convincing pattern of higher lows.
For me, there is no rush to jump in but there’s a solid trend unfolding here and the fundamentals back it up.
