USD/CHF Forecast Dec. 7th, 2011, Technical Analysis

USD/CHF continued to grind higher on Tuesday as traders are still running towards the US dollar for safety while the headlines are still poor overall. The Swiss National Bank has been working against the value of the Franc in general, so the Franc is no longer a “safe haven” asset, leaving the natural move to the Dollar as the most obvious choice. The 0.93 level is massive resistance, and should continue to be so. However, if we break above it – the 0.95 level is calling. We don’t sell this pair, rather like buying dips as the SNB will make buying the Franc difficult in general.

USD/CHF Forecast Dec. 7th, 2011, Technical Analysis USD/CHF Forecast Dec. 7th, 2011, Technical Analysis

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