USD/CHF Technical Analysis September 8, 2011

The USD/CHF pair had a very quiet day on Wednesday, which is understandable since the day before had roughly an 800 pip range. The pair hasn’t pulled back yet, but after the recent action in it, we like the idea of buying pullbacks, especially around the 0.83 – 0.85 range. The pair is being supported by a central bank willing to buy unlimited currency, and as such – we are no longer willing to sell this pair. The CHF is no longer a safe haven currency because of this, and as such, this pair will rise on any shocks to the system. Until we get the pullback however, we are simply waiting.

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