By FX Empire.com
USD/CHF fell again for the week as the Federal Reserve decided to extend the ultra low interest rates that the Americans have until the end of 2014. The Dollar got hammered on Thursday and Friday, and this pair wasn’t any different. The weekly close is at the very lows, and this is normally a significant sell signal. However, as the Swiss National Bank is currently working against the value of the Franc, and the pair is approaching the 1.20 level in the EUR/CHF pair – we could see the Swiss intervene before it is all said and done. With this in mind, we cannot sell this pair now. We will be on the sidelines, or buying on signs of support in the near future.
USD/CHF Forecast for the Week of January 30, 2012, Technical Analysis
Originally posted here
