USD/CHF rose during the session on Wednesday to reach the top of the recent consolidation area that we feel has been a bit of building by the bulls in this pair. The Swiss National Bank is currently trying to talk the value of the Franc down, and also have a “floor” in the EUR/CHF pair as well. Because of this, we feel that intervention could be coming relatively soon, and as such we won’t buy the Franc at all – in any pair. The Dollar is a safety play, and as such we only buy this pair. A break above the 0.9250 highs that the pair has recently put in has us buying.
USD/CHF Forecast February 16, 2012, Technical Analysis
Originally posted here
