Still weak within range.
• USD/CHF failed to breach 1.0107 dropping
sharply to support. The short-term technical
structure is negative as long as prices remain
below the hourly resistance at 1.0171
(07/03/2017). Hourly support is given at 1.0009
(13/04/2017 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 )
