The USD/CHF continued to bump along the 0.91 to 0.90 support area on Tuesday as the European situation continues to plague the attitude of the markets. The Swiss are going to be heavily exposed to the European issues, and as a result they have put in a floor in the market of the EUR/CHF pair. This will in turn put in a floor of the USD/CHF pair as the pairs will react in unison to any kind of intervention by the Swiss National Bank. With this in mind, we only buy this pair, as the central bank is certainly bigger than we. The buying of dips allows us to build a larger position over time, and as long as we stay above the 0.90 level - we are willing to continue to buy, looking for a 0.95 target.
USD/CHF Forecast February 22, 2012, Technical Analysis
USD/CHF Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3