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USDCHF is certainly the pair to watch in coming days after SNB surprised the market by announcing a negative 25 bp rate on sight deposits and lower the 3-month Libor range to -0.75% to 0.25% effective 22nd January 2015.
The pair broke out previous daily high at 0.9818 and hit 0.9850 level where we saw profit taking and some sellers stepped in. I am expecting this pair to reach parity in coming days as both fundamental and technical scenario suggest a bullish move.
Should the pair retrace down 0.9660, it would be ideal level to buy USDCHF at discounted price with take profit target of 1.00.
The pair broke out previous daily high at 0.9818 and hit 0.9850 level where we saw profit taking and some sellers stepped in. I am expecting this pair to reach parity in coming days as both fundamental and technical scenario suggest a bullish move.
Should the pair retrace down 0.9660, it would be ideal level to buy USDCHF at discounted price with take profit target of 1.00.
