USD/CHF Forecast March 29, 2012, Technical Analysis

The USD/CHF pair had a fairly wild day on Wednesday as the pair went both bullish and bearish, only to end up slightly bullish at the close. The pair is in the middle of a massive support zone between 0.90 and 0.91, so it is in an area that we think that we could see supportive candles. In fact, it is those type of candles that we need to see in order to buy this market. Selling isn’t in our thoughts simply because the Swiss National Bank continues to monitor the value of the Franc, and although this isn’t the trigger pair – any intervention in the Franc related markets will send this pair much, much higher.

USD/CHF Forecast March 29, 2012, Technical Analysis

Written by FX Empire