USD/CHF Forecast January 6th, 2012, Technical Analysis

USD/CHF rose again on Thursday as traders continue to favor the Dollar overall. The pair tends to run inverse of the EUR/USD pair, and as the Euro went sub-1.28 during the session, this pair rose. The 0.95 area is strong resistance, but the area looks like it is being seriously tested as we have been grinding higher and the pullbacks have been shallow. The 0.93 level should be a bit of a floor ahead as the area has shown itself to be supportive over the last couple of weeks. We are buying dips at this point, and would hold this pair long-term on the long side as well if we can close to new highs on the daily chart.

USD/CHF Forecast January 6th, 2012, Technical Analysis
USD/CHF Forecast January 6th, 2012, Technical Analysis

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