The USD/CHF pair fell for the bulk of the Monday session, even after initially rising in value. The pair ran headfirst into the 0.92 level, and found it a bit too taxing to rise above. The level should eventually give way, but perhaps there is a need to consolidate or collect more bulls before jumping over that hurdle.
The Dollar should continue to get a boost in general as the markets shun things in Europe, and the USD/CHF pair shouldn't be any different. The Swiss economy will suffer because of the European recession, and the value of the Franc is being kept down by the Swiss National Bank. With all of this being said, we prefer to buy this pair on supportive price action going forward. At the moment, we will remain flat in this pair.
USD/CHF Forecast March 13, 2012, Technical Analysis
USD/CHF Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3