USD/CHF Technical Analysis September 16, 2011

USD/CHF fell on Thursday, but has bounced off of the 200-day moving average. The pair is a “buy only” pair as the USD is the last remaining global safe haven, and the CHF is being actively worked against by the Swiss National Bank. We see the 0.85 – 0.83 zone to be vital for support, and are waiting to see if the moving average holds, or if the zone does. If we get supportive action in either area, we are happy to buy this pair. We don’t sell at all, as the SNB has the ability to print and sell an unlimited amount of Francs.

Written by FX Empire