14:59, 15 April

Market Recap

On Tuesday last week we covered the USDCHF which finished the week continuing to move higher and significantly breaking back through the key $1 level. This level continues to play a role with this currency pair and more recently had offered resistance to the USDCHF a week or so ago preventing prices from moving any higher.
It moved through strongly mid last week and importantly has found some support at this level having eased lower and tested this level to close out the week. Should this support be sustained, it is possible the USDCHF will rally higher and return to previous peaks around 1.01.