The USD/CHF pair fell a bit during the Monday session, after skyrocketing the couple of sessions before that. The 0.91 level has been broken above and we think this area should offer at least some support, all the way down to the 0.90 level. The pair recently bounced off of the 61.8% Fibonacci retracement level, and looks quite healthy at this point. The Swiss will certainly be punished by the weak EU economy, and the US economy is starting to pick up a bit. With this in mind, we think this trend continues. We like buying dips in this pair.

USD/CHF

USD/CHF Forecast March 6, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9050
0.9078
0.9107
0.9135
0.9164
0.9192
0.9221

 Fibonacci
0.9078
0.9100
0.9113
0.9135
0.9157
0.9170
0.9192

 Camarilla
0.9121
0.9126
0.9131
0.9135
0.9142
0.9147
0.9152

 Woodie's
-
0.9078
0.9108
0.9136
0.9165
0.9192
-

 DeMark's
-
-
0.9150
0.9128
0.9093
-
-