USD/CHF Technical Analysis September 12, 2011

The USD/CHF pair rose on Friday, and continues to hover above the 200-day moving average. Most traders recognize a breaking of the 200-day moving average as a trend change, and we certainly noticed the breaking of the weekly trend line a few sessions ago. Now we simply are waiting to get that pullback that allows the rest of us to get in. The pair has moved over 1,000 pips in the past couple of days, so that pullback is highly likely. If we get it – we would love to buy between 0.83 and 0.85.

Written by FX Empire