Bouncing back lower.
• USD/CHF has paused after sharp reversal off
1.0107 high (10/04/2017 high). Support located
at 1.0049 (10/05/2017 low) has been broken.
Expected to consolidate around parity.
• 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 Yann Quelenn)