USD/CHF Technical Analysis September 27, 2011

USD/CHF rose a bit during the Monday session, only to be repelled for the second time in three sessions. The 0.9000 level sits just below, and it looks like it wants to hold this pair up at this point. Since the Swiss National Bank is actively working against the Franc, we wouldn’t short this pair anyway. We are waiting for a supportive candle at the 0.9000 level from which to buy. If that doesn’t appear – we would be even more interested in buying at the 0.88 level if we get the chance.

Written by FX Empire