USD/CHF Technical Analysis August 23, 2011

With the Swiss National Bank artificially lifting this pair, the Monday session saw very little action in the USD/CHF pair. The Swiss Franc has been abandoned by the average trader, and is starting to sit still because of it. The central bank has all but killed trading in this market, and most traders will find it of no interest. However, it is important to pay attention to this kind of market because when it moves – it will move quickly and with certainty. The breaking of 0.8000 to the upside has us racing towards the 0.83000 level, and a break of the recent lows over the last few weeks will have us trading down towards 0.7500 or so. The trend is down, so we prefer a short set up.

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