USD/CHF Bearish Outlook, December 28, 2011 (Monthly Strategy)

USD/CHF

The United States dollar – Swiss Franc pair in the daily chart, recovered from 0.9545, trading on the Wednesday session at 0.9320, we have a fractal that has formed at 0.9397, so a monthly close above this level would confirm strength of the dollar. This will set the annual high 0.9780 2011, 2010 and 12 high 1.0065. On the other hand, it is suggested to sell, only the price of the pair is below 0.9390, with a potential for a deeper fall to 0.8900 support. If the movement continues to fall, will take place in the 200-day moving average, which serves as 0.8690 support or maybe in the next fractalthat is at 0.8620 dollars per Swiss franc.