USDCHF: Stubborn Franc Likely To Depreciate Vs The Greenback

Not a single major currency has been spared by the wrath of USD caused by the FED tightening. The franc being a safehaven currency has depreciated gradually against a super strong greenback. Looking at the all time monthly chart for USDCHF, it can be observed clearly that the swiss franc seems to be higher in value against the USD as the price remains at all time channel low. However with the FED being hawkish, the 1.0000 supply level/resistance was broken 2 weeks ago on weekly charts and now the price seems to aim for the upcoming supply zone located at 1.02000 area.

Here both fundamental and technical picture point towards LONGING this pair. However before doing so, we require this pair to retrace slightly so as we can attain 1:1 RR. Have a look at the main chart for full details.

Note: Trade is invalidated shall the take profit HIT first. Trade Cautiously & Safely. Cheers