USD/CHF Looking Weak Below Parity

One by one FX majors point towards a broader USD reversal, with the Swiss franc now coming onto our radar.

We can see on the weekly chart that USD/CHF has had a tough time above parity since October 2017. That’s not to say it hasn’t tried to hold above it, yet each time it has broken above this psychological round number it has rolled over again within days or weeks.

USD/CHF Chart

More recently we note the Swissy has failed to close above 1.0056 since printing a bearish pinbar at this level, and last week’s high marked a momentum shift prior to it crashing below parity once more. Therefore, we see further downside as quite likely at this stage.

USD/CHF Chart

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