USD/CHF Technical Analysis September 20, 2011

USD/CHF rose after gapping on the open Monday, but retraced a lot of that move as the markets settled down in the US afternoon. This pair is being supported by the Swiss National Bank, so selling isn’t really worth being bothered with. The pair is a buy only, and we are waiting to see if we get a pullback to the support zone we have on the chart. (0.83 – 0.85) Until we get into that area, it will be difficult to buy this pair, unless of course we can break the recent highs.

Written by FX Empire