USD/CHF: Fails To Capitalize As EUR/USD Bounces

USD/CHF has failed to capitalize on the initial break into the 1.24's. Having said that one advantage of buying ahead of the EUR/USD break was that you would get in ahead of the crowds it seems that the cons have won the initial battle. The biggest drawback was always likely to be a EUR/USD bounce and with spot bouncing off 1.2975 USD/CHF has been forced to dip back to 1.2390.