Still looking bullish although still contained by the key CHF% index resistance showing USDCHF 0.8913 as a level to break to the downside for the pair (upside for the index). EURCHF is continuing lower, perhaps as a reflection of risk aversion due to the escalation of the Iraq crisis once again making safe haven demand a concern, I am neutral/bullish CHF
**CHF% Index Resistance (USDCHF support): USDCHF 0.8913, 0.8800**
**CHF% Index Support (USDCHF resistance): USDCHF 0.9000, 0.9021, 0.9053**
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