The USD/CHF has found its way, once again, back to the 0.9400 area that seems to be a magnet for the pair. The pair has been dancing back and forth around this key level since late 2011, and since September 2012 it has opened or closed at this level more than 40 times on a daily chart. The Swissy is moving away from this level in shorter strides as each month progresses, creating a more or less horizontal channel with the occasional breakout in one direction or another, which is typically rather short lived. This is the market we have been living with in general, one where trends rarely last more than a few days or weeks at most before someone interjects and turns the tables again...like Bernanke or Carney recently. The best we can do is take this into consideration when trading, and make the most of lower time frame trends. In the case of the USD/CHF we will be watching for the pair to possibly extend lower with support at 0.9325 and 0.9200. If the higher low/lower high pattern continues, expect this one to find support and reverse back towards 0.9400 at around 0.9250 if it isn't stopped by 0.9325 previously mentioned. Above we see resistance at 0.9470 & 0.9540 & 0.9670 further on, which will come into play if we find support anytime soon.
