USD/CHF Technical Analysis September 9, 2011

The USD/CHF pair continues to rise in value as the Swiss have made is absolutely certain that they are willing to print as many Francs as it takes to reverse the strength of the currency. The world is nervous, and looking for safe havens. Since the Swiss Franc is no longer able to be one of those, it makes sense that the market is buying the USD, pushing this pair higher. The 200-day moving average has been closed above on the session, and this is a bullish technical signal as well. Because of all of this information, we are buying the USD/CHF pair on pullbacks.

Written by FX Empire