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CHF Trade Signals
Signal
Entry
Stop
Target
Target 2
Buy
1.2150
1.2130
1.2160
1.2180
Buy
1.2085
1.2085 1.2065 1.2095 1.2115
1.2065
1.2095
1.2115
Sell
1.2025
1.2045
1.2015
1.1995
* Optimal weighting for first target is 80%. When Target price is achieved set remainder with a stop at break even. Trailing stops can improve the performance of this strategy as well.
CHF Commentary -
The pair was pushed and pulled by the combination of EUR/CHF selling and USD/CHF buying. Early cross sales helped USD/CHF offset the broader US unit bid tone but EUR/CHF failed to break below 1.6390 and as a result the USD garnered its own momentum and USD/CHF rallied into the low 1.21"s. Local dealers look for further Swissie strength this week ahead of a speech from SNB board member Philipp Hildebrand on Tuesday. Key domestic economic data is also due later this week.
Latest comments from the Swiss National Bank official the market will look to the latest KoF Leading Indicator data to shed further light on the Swiss economy"s health. The barometer is due for unveiling on Friday and is expected to rise for the third consecutive month to 2.0 from the previous 1.9 reading. Any such reading would signal further growth in the mountain economy going forward and this would cement the need for at least a 25bp hike in Q2 (meeting mid-June) with many beginning to argue that there be the need for more aggressive tightening to combat the weaker Franc.
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