In recent days, speculation has surrounded the performance of the Swiss Franc (CHF). With intervention by the Swiss National Bank, all CHF related pairs have been experiencing a certain degree of volatility. In regards, to USDCHF, a reverse head and shoulders pattern has started forming. As a result, this pair will be highly affected by upcoming news within the upcoming weeks.
- Should there be a devaluation in currency, bulls may take control of the opportunity presented.
- However, should the SNB maintain the same rates or otherwise, the pair will remain stable and continue its downward trend.