Looks like we’re seeing the dip buyers in USD/CHF and EUR/CHF being carried out on stretchers. A month-end surge in franc may just be a seasonal thing but given the new ground made to the downside in the cross (all time lows around 1.2880) and below 1.0200 in USD/CHF, clearly this is a powerful move that should not be faded.
If you are so inclined to pick bottoms (never a high-probability activity), let the market bottom and buy a bounce. Don’t catch a falling knife.
1.0130 is crucial support for USD/CHF. More stops are perched below and a sustained break should see push below parity.
