The USD/CHF pair fell for the session as the Dollar pulled back against many of the major currencies on Thursday. The pair has recently broken above the 0.9250 level, and this shows that perhaps there is more strength in the bulls going forward. The bounce at the end of the session suggests that perhaps the 0.92 level is going to act as support as well. The SNB is currently working against the value of the Franc, and therefore we don't buy it in general. The Dollar continues to enjoy strength in the markets, and we think that it will continue to in the future. With this being said, we are buying this pair on signs of support on the short-term charts such as the hourly or 4 hour charts.
USD/CHF Forecast March 16, 2012, Technical Analysis
USD/CHF Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3