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 Forecast January 25, 2012, Technical Analysis
USD/CHF Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3