Image Source: Pixabay

On March 26^th I wrote a Daily called: Last Night I Had a Crazy Dream-Swiss Franc

When I awoke and looked at the charts, I noticed in the futures market is that CHFUSD (Swiss Franc to the US Dollar) has been in a freefall for a while.

On the monthly chart, FXF has moved closer to the 23- and 80-month moving averages.

Even more importantly, the price has been above both MAs since a year ago.

With long bond yields softening a bit and the US dollar coming off its recent highs, I thought it might be fun to revisit this dream and update you on the current daily chart analysis.

First off, FXF is holding the October 6^th low over 97.00.

Secondly, FXF is now outperforming the benchmark or SPY.

Thirdly, our Real Motion Indicator tells us that FXF had a mean reversion.

Finally, on April 15^th FXF made a new 60+ day low followed by an inside day, with today’s action closing above the highs of both days.

Reversal pattern?

Ideally, we would like to see FXF get back over and close the week out over 98.10 or the 200-WMA.

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