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Sideways price action.
(By Yann Quelenn )
• USD/CHF keeps on bouncing. Strong
resistance is given at 0.9771 (15/06/2017 high).
The technical structure shows that the the pair is
likely to head further lower below 0.9421
(03/05/2017). Expected to show renewed bearish
pressures.
• 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.
