Short CADCHF as oil retreats and CHF recovers some lost ground

In recent weeks the Swiss Franc has dropped significantly and for no good reason. The Canadian dollar on the other hand has held relatively steady as oil prices
surged. Oil is now coming up against some resistance and is likely to pull back. To add to that a dovish tone from the bank of Canada tomorrow will provide more catalyst for this pair to drop. This will be a short term trade and will need to be reevaluated at the end of the week.