USD/CHF Forecast December 29, 2011, Technical Analysis

USD/CHF rose during the session on Wednesday as the Dollar got bought up in all markets. The Swiss National Bank is working against the overall strength of the Franc, so a move upwards makes sense in times of concern. The 0.93 level has shown itself to be supportive after the breakout, and the 0.95 level looks resistive. However, we feel that the long-term outlook for this pair is up, as the Swiss economy is more than likely to be hurt by the EU and its recession. With all of this being said – we are buying dips.