European currencies range-bound in Asia: USD/CHF squeezing shorts
- USD/CHF has been a significant mover over the last few days and the short squeeze could pick up momentum above .9400 (see chart).
- Cable is retracing off its recent highs but I’m still in dip-buying mode. Support on the day at previous highs near 1.5390 but I prefer to wait for levels closer to 1.5280. Recent highs near 1.5550 are the obvious resistance levels.
- EUR/USD ground slowly higher and is now grinding slowly lower. Sorry, I’ve got no strong views here at all.