My picks: Long USD/CHF on Close Above 1.0650
Expertise: Fundamentals Combined With Technicals
Average Time Frame of Trades: 1 Day - 1 Week
The steep and steady decline of USD/CHF has run into some support at the 61.8% fib of 0.9637-1.2300 at 1.0654, and this is really the only USD cross that I see potential for a turn. That said, I would only look to enter upon a close above 1.0650, and would place a stop below today's lows. Short-term targets include congestion near 1.0800, but ideally I'd like to look for a greater bounce to 1.0940 (the 50% fib of 1.1268-1.0618).
I still have a short GBP/CHF trade on the books, which is in the red but just missed my stop of 1.7515
