USD/CHF rose slightly in an otherwise quiet session on Tuesday. The pair is currently sitting on a massive support area in the form of the 0.92 - 0.93 handles. The candle for the session resulted in a doji, and this shows just how undecided the market is. The candle does however provide us with a binary and easy set up.

The breaking of the top of the candle would be a buy signal and perhaps hint that we would return to the top of the recent range which could see prices as high as 0.95 or so. A break below the bottom of the doji could signal a selling position, but we would feel more comfortable if the daily close was below the 0.92 level. In the meantime, we simply wait to see if the market gives us a clear sign.

USD/CHF

USD/CHF Forecast January 25, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9163
0.9200
0.9240
0.9276
0.9317
0.9354
0.9394

 Fibonacci
0.9200
0.9229
0.9247
0.9276
0.9306
0.9324
0.9354

 Camarilla
0.9259
0.9266
0.9273
0.9276
0.9288
0.9295
0.9302

 Woodie's
-
0.9200
0.9242
0.9278
0.9319
0.9354
-

 DeMark's
-
-
0.9335
-
0.9258
-
-