The surge in USD/CHF today has led the 100 SMA to move above the 200 SMA, possibly signaling a change in trend for the pair. Given the extent of the move, we’re likely to see some sort of pullback in the near-term, but ultimately, USD/CHF should continue higher to target trendline resistance and the September highs near 1.14. It will be important to see what the pair does at that point, as a break above the noted trendline will help to confirm suspicions of a trend change.
[B]USD/CHF (Daily Chart)[/B]
[I]Source: Intellicharts[/I]