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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/CHF - Sell Short Term Bounces

USD/CHF continues to move broadly sideways, as can be seen by the failure to break the hourly resistance at 0.9885 (01/09/2016 high), the shortterm technical structure is negative. There are alternating periods of strong and low volatility and the pair seems without direction. Key resistance lies at 0.9956 (30/05/2016 high). Support can be located at 0.9662 (28/09/2016 low) then 0.9662 (26/09/2016 base low).

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 nonetheless a long term bullish bias since the unpeg in January 2015.

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