The Swiss Franc fell strongly last week to reach very close to a new 3-year low against the US Dollar, and to reach and surpass parity with it. European currencies excepting the Euro are generally weak, but the Franc is showing standout weakness.
The fall in the Swiss Franc has been unusually strong, being a firmer directional trend over the past few weeks than any other currency excepting the US Dollar. This is unusual as the Swiss Franc rarely trends strongly.
With a still-strong US Dollar, and non-USD currencies (especially European currencies) looking weak, the price may rise further over the short-term. However, bulls should beware of two factors:
The price hit and rejected the old key resistance level at $1.0050.
The Swiss Franc rarely trends for long.
I will not take this trend trade, but it may be attractive to other speculators.
The fall in the Swiss Franc has been unusually strong, being a firmer directional trend over the past few weeks than any other currency excepting the US Dollar. This is unusual as the Swiss Franc rarely trends strongly.
With a still-strong US Dollar, and non-USD currencies (especially European currencies) looking weak, the price may rise further over the short-term. However, bulls should beware of two factors:
The price hit and rejected the old key resistance level at $1.0050.
The Swiss Franc rarely trends for long.
I will not take this trend trade, but it may be attractive to other speculators.