Lack of follow-through.
• USD/CHF is back above former support given
at 0.9692 (22/05/2017 low). Strong resistance is
given at 1.0107 (10/04/2017 high). Expected to
show continued weakness towards hourly
support at 0.9550 (09/11/2017 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 Yann Quelenn)