Today, the USDCHF broke the range it traded in since the 27th of May, now it has no clear resistance level until 1.1232. Please take a look at the next chart:
But now the question is: Will the EURUSD follow?
I guess we’ll have to wait, although we have one thing for certain: Remember there is a negative correlation between these two pairs, when the EURUSD goes up, the USDCHF tends to go down. So, right now, if I was to go short in the EURUSD or long in the USDCHF, I’ll definitely choose long USDCHF.
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