Matt Simpson, CFTe, MSTA
CityIndex
Before we see broad strength into or out of a particular currency, its not uncommon to see one or two related pairs take the lead before the others catch up. And that appears to be what is happening across CHF pairs.
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CAD/CHF is on the cusp of confirming and head and shoulders top, after its momentum shift from multi-moth highs
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EUR/CHF appears to be taking the lead with its break beneath key support, having completed a 3-wave correction before realigning itself with the dominant, bearish trend.
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CHF/JPY is coiling up within a small triangle / pennant pattern, having broken out of a large bullish wedge to the upside.
So whilst this may have gone unnoticed, it appears that the Swiss franc is quietly gaining attention for the bull camp. Today’s video takes a closer look at these pairs and their key levels.
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