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USD/CHF - Drifting Lower

By - Jul 05, 2016, 11:57 AM CDT

USD/CHF's upside has faded. Hourly support is given at 0.9711 (01/07/2016 low) has been broken. The pair is heading toward hourly support at 0.9648 (24/06/2016 high). Expected to further weaken.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours a long term bullish bias since last December.

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