Taking a look at this pair we see that price has printed a higher low which predicts a higher high. Price is trading in a bullish channel, and if it respects the channel than its possible to see this pair move to the upside. Fundamentally the Switzerland’s central bank, SNB, kept policy settings unchanged (benchmark rate -0.75%) and continued to stress their willingness to intervene to address CHF strength, with CHF still seen as above fair value. If the SNB runs out of patience with CHF strength and intervenes to weaken the currency than we could see a potential rise to the upside for this pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.