USD/CHF – Strong resistance anticipated near 0.9600

From migbank.com

Sell limit adjusted slightly to 0.9610. USD/CHF has broken over 0.9470, increasing the likelihood of a return to 0.9550 and then potentially 0.9600. However, the 0.9550/0.9600 region is expected to act as strong resistance. USD/CHF continues to be a tied to the fate of EUR/CHF and thus the ability of the SNB to successfully maintain its floor in EUR/CHF at 1.2000. We remain focused on the 1.2130 level in EUR/CHF, below which should increase the likelihood of selling towards the 1.2000 level. Fresh highs are still anticipated in 10 year Italian sovereign yields, with scope then for a minor pullback, maintaining ... (full story)