USD/CHF (current price: 0.9777)
The Swiss Franc was among the weakest currencies during the recent rally in the Dollar, as the Swiss Economy showed surprising weakness and the SNB used an increasingly dovish rhetoric lately. The pair still trades in a declining long-term trend, but the short-term momentum favors further upside in the coming days. The 200-day MA near 0.9825 might serve as resistance in the near future if the cross manages to break above the crucial 0.98 level.
Our assessment: USD/CHF is still looking bullish after the two weeks of advance that followed the successful test of the 0.95 level.
