USD/CHF had a very bullish week as the 61.8% Fibonacci retracement has held, and the 0.90 level has offered real support. The area that the pair is approaching has significant resistance from a few weeks ago, but the most recent surge has certainly been to the upside, and we feel that with the improving US economy and the deteriorating European one - we feel being out of Europe is probably the way to go. The Swiss are working against the value of the Franc, so we don't want to buy it anyway. We think a buy order on a break above the top of the week's range is the way to go as we march towards the .95 level. Further out, we expect to see parity as well.

USD/CHF

USD/CHF Forecast for the Week of March 5, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9133
0.9137
0.9140
0.9144
0.9147
0.9151
0.9154

 Fibonacci
0.9137
0.9140
0.9141
0.9144
0.9147
0.9148
0.9151

 Camarilla
0.9141
0.9142
0.9142
0.9144
0.9144
0.9144
0.9145

 Woodie's
-
0.9137
0.9140
0.9144
0.9146
0.9151
-

 DeMark's
-
-
0.9146
0.9143
0.9138
-
-