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USDCHF – More to Go?
One the strongest, yet most ignored trends in the FX market over the past few months has been the one-way rise is USDCHF. Although the pair is overbought registering 13 out of the last 15 up days, it shows no signs of a slowdown as the slow and steady dollar rise continues.
This week the FX market will focus on US inflation data which is expected to bounce, given the sharp rise in gasoline prices. If the numbers meet or beat the forecast, the buck will see more strength as the week progresses. USDCHF now faces resistance at the 1.0050 level, but if it can bust through that ceiling the pair could stretch all the way to 1.0200 before finding sellers again.