USD/CHF fell hard during the session on Wednesday as traders sold off the US dollar. However, the 0.93 level is just below, and this was the site of serious support previously. Because of this, we would hesitate to sell at this point in time. The level would have to be cleared on a daily close in order to think of selling.

The area is however, a great place to looks for support. If we get it on a 4 hour chart or above, we are willing to have a go on the long side in this pair, knowing that the road ahead is probably choppy but biased to the upside. We are buying on supportive candles going forward.

USD/CHF

USD/CHF Forecast January 19, 2012, Technical Analysis

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

 Name  S1  S2  S3  Pivot  R1  R2  R3

 Classic
0.9360
0.9311
0.9242
0.9429
0.9478
0.9547
0.9596

 Fibonacci
0.9384
0.9356
0.9311
0.9429
0.9474
0.9502
0.9547

 Camarilla
0.9398
0.9387
0.9377
0.9429
0.9420
0.9431
0.9441

 Woodie's
0.9350
0.9306
-
0.9424
0.9468
0.9542
-

 DeMark's
0.9454
-
-
-
0.9336
-
-