By FX Empire.com
USD/CHF continued to try and gain for the week, but still remains a bit sluggish at this point. While the candle was positive, the shape is a shooting star, and this is very bearish. The pair simply cannot seem to gain traction, but the support is holding up quite nicely as well. With this in mind, the long-term trading of this pair is a bit difficult unless you are very, very patient.
The 0.91 to 0.90 levels seem to be the supportive area, and as long as the Swiss are supporting the Euro against the Franc at 1.20, it is hard to think that the Franc will be able to appreciate significantly against any currency, especially the Dollar which has been fairly reliable lately. Because of this, we are more apt to buy this pair than sell it. The close we get to 0.91, the happier we are to pick up more Dollars. Selling isn’t a thought because this pair will move in concert with the EUR/CHF pair – and that one won’t be going down anytime soon.
USD/CHF Forecast for the Week of February 20, 2012, Technical Analysis
Originally posted here
