USD/CHF gapped up over the weekend opening, but did very little on Monday as volumes were probably light due to the holiday in America. The 0.95 level continues to be important in this pair, and as a result we look for reactions in this vicinity.
The pair looks bullish overall, and we like buying this pair on dips and higher highs. The nature of this pair is to “grind”, and we think that if you know this going in, you are more comfortable with the trade as it takes patience. The 0.93 level should still be support from the recent breakout. We won’t sell this pair, as the Franc is being worked against, and Switzerland will certainly feel the pinch from the European recession this year.
USD/CHF Forecast January 17, 2012, Technical Analysis
Originally posted here
