CHF Index: Swiss franc clears resistance

CHF Index: Swiss franc clears resistance

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A strong day for the Swiss Franc, we have pushed through resistance and resumed the bullish trend that was very unconvincingly broken to the downside as a result of the ECB rate cut. EURCHF is selling quite well so USDCHF shorts should be a good method for trading any breaks higher for EURUSD. We ended Monday at resistance though so need to break above this level first (below USDCHF 0.8859). I am bullish CHF

**CHF% Index Resistance (USDCHF support): USDCHF 0.88859, 0.8785**
**CHF% Index Support (USDCHF resistance): USDCHF 0.9000, 0.9013, 0.9050**
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.
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By John Adam
John Adam was one of the Invezz Founding Partners & Lead Editor's up until 2017. John has an unmatched breadth and depth of experience in all things investing, and we wish him the best in his pastures new.

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