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 Forecast January 19, 2012, Technical Analysis
USD/CHF Pivot Points (Time Frame: 1 Day)
Name S1 S2 S3 Pivot R1 R2 R3