CHF at Key Technical Support

⏰CHF at key levels ⏰

Overview

The Swiss Franc is at key technical support levels on several pairs. The CHF strength is driven by the Israel-Hamas war.

The Details

The support levels will likely not hold if there is further escalation in the region. Expect the support levels to break and ***CHF pairs to move lower.

If by some miracle, the war becomes stagnant or things de-escalate, the support levels could hold.

Things to consider

• Buying the CHF is painful due to Switzerland's low-interest rate. The swap rate offered by most brokers is off-putting.
  
• A better trade may be a de-escalation trade, though we could be waiting a while
  
• The Swiss Franc continues to downtrend longer-term. A de-escalation trade may catch a downside correction move rather than a long-term uptrend.
  
• The CHF could strengthen on global recession fears, possibly in the coming months.