In my opinion, the correction impulse that started after CHF reached multi-year highs against USD would continue. The USD could erase part of its year losses and touch 0.89 during the next month. The scenario will be canceled, if the Swiss currency resumes its long-term trend and breakout the level of 0.86975.
Note
It is interesting that after the US inflation data, the franc tried to break today the support of 0.86975. But finally, the pair is closing near yesterday's close shaping a doji. I comprehend that currently franc buyers do not have enough energy to diminish the price of the dollar. I stick to my guns, i.e., 0.89 USDCHF.Trade closed manually
Last Friday, USD tried to reach 0.89 but stopped at 0.8875. I still believe that USD could reach 0.89, but from a trading point, there is no reason to wait for it- because most of the expected dollar against frank growth has occurred.
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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.