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USDCHF Tug-of-War
When you see CHf move in opposite direction vs. others there is usually a cross involved, creating a tug-of war between the currency pairs.
Pop in USDCHF after the SNB meeting paused shy of this week’s .7973 high.
This keeps it in its range where a break of .7941 would be needed to end upward momentum.
USDCHF 1 HOUR CHART

Using my platform as a Heatmap shows the dollar trading mixed and still within this week’s ranges. CHF underperforming following the as expected SNB decision to keep rates unchanged.
A key focus today will be on US weekly jobless claims given a a hyper sensitivity to jobs data with the Fed’s focus on that part of its mandate.
In order of relative strength vs. the USD
1. AUD
2. NZD
3. JPY
4. CAD
5. GBP
6. EUR
7, CHF

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