USD/CHF continued to fall during the Wednesday session as the dollar continues to dive. The 0.92 level sits just below at the time of writing, and this has been a bit of a “line in the sand” in the pair for us. IF we see a daily close below this level – we wouldn’t be interested in buying anymore, and would look for selling opportunities. The EUR/CHF has to be monitored though, as the Swiss National Bank has ‘floor” in it of 1.20. A breaking below that level in the EUR/CHF pair could have the SNB selling off the Franc as a whole, which of course would push this pair higher overall. In the meantime, we are cautiously willing to sell at a break below the 0.USD/CHF continued to fall during the Wednesday session as the dollar continues to dive. The 0.92 level sits just below at the time of writing, and this has been a bit of a “line in the sand” in the pair for us. IF we see a daily close below this level – we wouldn’t be interested in buying anymore, and would look for selling opportunities. The EUR/CHF has to be monitored though, as the Swiss National Bank has a “floor” in it of 1.20. A breaking below that level in the EUR/CHF pair could have the SNB selling off the Franc as a whole, which of course would push this pair higher overall. In the meantime, we are cautiously willing to sell at a break below the 0.92 level on the daily close.
USD/CHF Forecast January 26, 2012, Technical Analysis
Originally posted here
