Corrected to March highs and held
The USDCHF traded at the highest level since the SNB depeg yesterday - breaking above the March 12 high at 1.0126 in the process. Today, the pair corrected lower. The low? 1.0127, just above that March 12 high.
The price over the last 5 hours has pushed higher and we are currently extending above the highs from yesterday at 1.0170 (see chart). The break is holding but so far the momentum above the highs is not racing away with tons of momentum. Nevertheless, buyers remain in control off the bounce against support.
The high price - just before the depeg, reached 1.0241. That will be the next major target above if the bulls can keep the price above support levels.
