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

USD/CHF Forecast March 13, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9058
0.9098
0.9128
0.9168
0.9198
0.9238
0.9268

 Fibonacci
0.9098
0.9125
0.9142
0.9168
0.9195
0.9212
0.9238

 Camarilla
0.9138
0.9144
0.9151
0.9168
0.9163
0.9170
0.9176

 Woodie's
-
0.9096
0.9122
0.9166
0.9192
0.9236
-

 DeMark's
-
-
0.9183
0.9161
0.9113
-
-