Sharp bounce.
• USD/CHF keeps on declining despite strong
volatility. The short-term technical structure is
negative as long as prices remain below the
hourly resistance at 1.0171 (07/03/2017). Monitor
hourly support is given at 0.9955 (30/03/2017
base low) then 0.9814 (27/03/2017 low).
• In the long-term, the pair is still trading in
range since 2011 despite some turmoil when the
SNB unpegged the CHF. Key support can be
found 0.8986 (30/01/2015 low). The technical
structure favours nonetheless a long term bullish
bias since the unpeg in January 2015.
(By Peter Rosenstreich )
