FX.co ★ blaise.rogahn | USD/CHF

USDCHF rose during yesterday’s session, just as I had forecast. A breakout of 0.8130, the long-term resistance, opens up a large upside target for the pair at 0.85. Today USDCHF has every chance to climb to 0.8250. There are two strong reasons for dollar strength. The release of inflation data, which will be extrapolated from the events with Iran. Oil is rising and there is no hope for lower inflation. The US tore up the peace agreement. This is a fact Kevin Warsh will not be able to ignore. The new Fed chair is speaking before Congress for the first time today, and there is a very high probability that he will have to voice hawkish forecasts. The Swiss franc is neutral. There is no significant news out of Europe today.