USD/CHF Technical Analysis September 2, 2011

The USD/CHF pair fell again on Thursday as traders continue to buy the Swiss Franc against most other currencies. The pair tested a weekly trend line and failed to the upside a couple days ago, and as such – has confirmed the downward trend again. The area in the 0.79 – 0.80 levels is massive support, and if that gives way- we will go much lower. The 0.75 level is more than likely the next stop if this happens. If the area holds, we need to see 0.83 level broken to the upside in order to buy this pair.

Written by FX Empire