USD/CHF Forecast August 27, 2015, Technical Analysis

The USD/CHF pair broke higher during the day on Wednesday, testing the 0.95 level. That is a large, round, psychologically significant number. That is also an area where we would anticipate seeing quite a bit of resistance, so we can break above there, we would be buyers. This is a market that recently broke out, but also broke down. With this in the volatility that we see around the world, we feel that it makes sense that we will continue to struggle. However, breaking above the 0.95 level not only clear is that round number, but it also clears the pseudo-shooting star that we formed on Tuesday. That would be reason enough for us to start going long.