Slow messy upside and still contained within the nearside support and resistances, The Franc is finding bids on lows a shown also by the drop in EURCHF. While a modest drop for the cross, it is a reliable drop with continuous downside now for several days suggesting a reluctance to sell the Franc by traders and another push towards our suspicion of dollar downside.
I am neutral/bullish CHF
**CHF% Index Resistance (USDCHF support): USDCHF 0.8916, 0.8800**
**CHF% Index Support (USDCHF resistance): USDCHF 0.9000, 0.9024, 0.9056**
Note – the large spike on Mon 16th is a GBPCHF pricing error at the broker
**LittlefishFX Relative Currency Index Strength**
All of the currency indexes used for this analysis are available as a NinjaTrader indicator from the link below. They are eight indexes, USD, EUR, JPY, GBP, AUD, CHF, CAD and NZD with each index made up of the remaining seven pairs, weighted in accordance with the distribution of global FX volume as measured by the Bank of International Settlements in their Triennial Survey.
Get RCIS Indicator here