USD/CHF fell for the Wednesday session as the Dollar got hit again. However, the 0.91 level came into play, and held up as support again. The area actually extends down to the 0.90 figure, and as a result we are not willing to sell at this point - even if the pair does look a bit weak.

The fundamentals for a weak Switzerland and the possibility of Swiss intervention against the value of the Franc make selling this pair almost impossible, and quite frankly - dangerous. The pair is a buy only one, but we don't have the supportive candlestick in which to do so from. Until we see a bounce or hammer - we are flat.

USD/CHF

USD/CHF Forecast February 2, 2012, Technical Analysis

USD/CHF Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9005
0.9060
0.9115
0.9170
0.9225
0.9280
0.9335

 Fibonacci
0.9060
0.9102
0.9128
0.9170
0.9212
0.9238
0.9280

 Camarilla
0.9140
0.9150
0.9160
0.9170
0.9181
0.9191
0.9201

 Woodie's
-
0.9060
0.9116
0.9170
0.9226
0.9280
-

 DeMark's
-
-
0.9198
0.9156
0.9088
-
-