In a somewhat surprising move, the Franc appreciated during the Thursday session. The pair has a massive support zone between 0.91 and 0.90, and it has fallen towards the bottom of this area at the end of the Thursday session. The level should be fairly supportive, but as long as the EUR/CHF pair remains above the 1.20 level - there shouldn't be any intervention by the Swiss National Bank. The 200 day EMA is being violated, and as such the Friday close should be vital. We are going to wait until we get the close of trading today to make another trade. On signs of support, we fell this could be a good place to buy, however - there is always the threat of further losses, so on a daily close below 0.90 - we would sell. This assumes that the EUR/CHF isn't threatening the intervention zone below 1.20 in that pair.

USD/CHF

USD/CHF Forecast February 24, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8916
0.8962
0.8990
0.9036
0.9064
0.9110
0.9138

 Fibonacci
0.8962
0.8990
0.9007
0.9036
0.9064
0.9081
0.9110

 Camarilla
0.8998
0.9005
0.9012
0.9036
0.9025
0.9032
0.9039

 Woodie's
-
0.8957
0.8982
0.9031
0.9056
0.9105
-

 DeMark's
-
-
0.9050
0.9028
0.8976
-
-