USD/CHF Technical Analysis October 26, 2011

The USD/CHF pair has fallen again on Tuesday. The pair continues to drift lower, as traders are starting to test the will of the Swiss National Bank. The SNB is trying to keep the Franc weaker, and as such – we prefer a buying opportunity in this pair. If the market begins to sell off risk assets , you may see the opportunity as the Dollar has become the “safety trade” as the Yen and Franc are both actively being worked against by their central banks. With this in mind, we like buying, and want to see a supportive candle on the daily chart to get long.

Written by FX Empire