USD/CHF (current price: 0.9735)
The U.S. Dollar gained ground on the Swiss Franc on Friday, as investors sold European assets following the Brexit vote. Despite the proximity of Switzerland and the UK, the Swissie might turn out to be a beneficiary of the events since traders treat the Alpine currency as a safe haven just like the Japanese Yen. The pair remained in a declining trend, despite the bullish initial reaction, and the next few days could be decisive for the Franc concerning the long-term direction.
Our assessment: The 200-day moving average still serves as resistance for USD/CHF and the long-term trend is still bearish, even though the pair moved sharply higher on Friday.
