FX.co ★ USD/CHF Bearish Outlook, December 07, 2011

USD/CHF

The United States Dollar - Swiss Franc pair in the daily chart, maintains its upward trend and fell further after the publication of the unemployment rate in Switzerland. The 3% below the estimate, suggests that the SNB will take action to further devalue the currency.

At the technical level, we note that the pair is facing in its rise to the second weekly resistance (0.9436) and the fractal that is bejado this level. (0.9380).Since the pair, has now over 650 pips since the beginning of November, at this level have strong reasons why the pair have to make a correction to 0.8850 at least, the RSI indicator and range indicator is showing signs of signs overbought.