USD/CHF has bounced somewhat off of Friday’s lows as risk in general has rallied so far this week. The fiasco overnight in Iowa appears to be viewed as a risk-positive – given it is likely helpful to Trump -- if the overnight moves are any guide. With the risk on theme during today's Asian session USD/CHF is testing the short-term resistance coming in at 0.9680. The next levels in USD/CHF then are 0.9710 and 0.9760/70.
EUR/CHF is testing the short-term technical resistance at 1.0717, overall the down trend channel is still in play with the pivots coming in at 1.0740 and 1.0630. It will be interesting to see if the sentiment can hold up with the start in Europe very often we have seen in it the past month that the sentiment changed once Europe walked especially for EUR/CHF.
EUR/CHF is testing the short-term technical resistance at 1.0717, overall the down trend channel is still in play with the pivots coming in at 1.0740 and 1.0630. It will be interesting to see if the sentiment can hold up with the start in Europe very often we have seen in it the past month that the sentiment changed once Europe walked especially for EUR/CHF.
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