USD/CHF Technical Analysis August 24, 2011

The USD/CHF continued to be the “place were money goes to die” on Tuesday. The market is in a very tight range, and it appears that it is “stuck” at this time. The 0.8000 level is massive resistance, and the Swiss National Bank is willing to step in and keep this market up. This will make for very difficult trading conditions for the foreseeable future. The pair needs a large red or green candle to make us get involved. The trend is down – so we prefer that candle to be red.

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