USD/CHF Forecast December 20, 2011, Technical Analysis

USD/CHF had a very quiet session on Monday as traders are starting to think of holidays, and not so much of economics. The pair continues to find support at the 0.93 level, and this is just below where the market sits presently. The 0.95 level will also be resistive, but only as a minor level in our opinion. The Swiss are working against their own currency, and the Dollar is the safest trade out there, so this should continue to put upward pressure on this pair over time. We are buying dips, but only with the knowledge of it being a slow grind higher, not a straight shot. We won’t sell – the SNB is working against that trade.

USD/CHF Forecast December 20, 2011, Technical Analysis
USD/CHF Forecast December 20, 2011, Technical Analysis

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