USD/CHF Technical Analysis for the Week of August 15, 2011

The USD/CHF pair fell hard this past week, and then bounced as traders left the Franc in droves. There is concern about a potential pegging of the Franc to the Euro, and if that happens….the Franc will be valued much, much lower. However, until that happens there isn’t much to work off of except this casual comment by a SNB member. We are waiting for a selling opportunity, and this potential bounce is about to give it to us. The 0.80 and 0.83 level s are possible selling areas as the trend should be set to continue.

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