USD/CHF Technical Analysis October 31, 2011

The USD/CHF pair had a slightly bullish day on Friday, showing that the 0.86 level is the start of possible support in this market. The 0.85 is a more significant level in our eyes, but this area that we found ourselves in on Friday is the top of the Swiss National Bank’s thrust upward from a few months ago. This should become an area where serious support steps up, and as such we are looking for buying opportunities. So far, we haven’t seen the candles for that – but we are watching.

Written by FX Empire