USD/CHF Technical Analysis October 6, 2011

USD/CHF rose on Wednesday as traders continue to sell off the Franc. With the Swiss National Bank willing to sell it as well – this makes sense. Also, in times of concern, the Franc can no longer be thought of as a “safe haven” currency, and as a result – this pair can only be bought at this point. We continue to like buying the dips, and we feel that the 0.9000 level should continue to be a bit of a floor at this point.

Written by FX Empire