After closing out short term positions I am still maintaining lower risk long term positions in this pair as I believe the Swiss franc will fundamentally need to be curbed long term! The attack on the 200MA was met with resistance on the 4h chart today and the pair has pushed lower again but we will see how this pans out over the course of the week. The lower range could be months in the running but I doubt it will take that long before the CHF needs to be brought under control.
I’m looking to scale out of the long term trade after seeing how price reacts to the 1.08380 level and will be trading price action intra day.
Agreed, wither the Swiss National Bank already making noises about curbing the strength of CHF any pair using this should be treated with some caution. Good write up mate
