USD/CHF had a bullish week, but did give back some of its gains on Thursday and Friday. The pair formed a shooting star- like candle for the week, and the
USD/CHF had a bullish week, but did give back some of its gains on Thursday and Friday. The pair formed a shooting star- like candle for the week, and the 0.95 level held as resistance. The Swiss National Bank didn’t raise the “floor” in the EUR/CHF pair as expected, so the Franc was bought back up against many currencies in the latter sessions of the week. However, we think the possible fall at this point is more than likely a pullback as the 0.93 level looks very constructive, and the market prefers the Dollar more often than not these days. We are willing to buy the pullbacks in this pair as we think it will eventually go to parity.
USD/CHF Forecast for the Week of December 19, 2011
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
