USD/CHF: Support around 0.912 2012-12-26	5/5

Show full picture Overview:
USD/CHF trade with risks skewed higher. Swiss markets are shut for holiday today. USD/CHF is supported by contagion from weak EUR on CHF; broadly stronger demand for safe-haven USD as investor risk appetite stays subdued amid U.S. fiscal cliff fears. But USD/CHF gains tempered by franc demand on buoyant CHF/JPY cross. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold. 
Preference:
Buy above 0.912 with targets 0.918 and 0.9195 in extension.
Resistance Levels:
R1 - 0.9170-0.9179 band (Monday's high-Friday's high)
R2 - 0.9186-0.9194 band (Dec.18 high - Dec.17 high)
R3 - 0.9247 (Dec.14 high) 
Alternative scenario:
Sell below 0.912. Below 0.912 look for further downside with 0.908 and 0.905 as targets.
Support Levels:
S1 - 0.9080 (Thursday's seven-and-a-half month low)
S2 - 0.905
S3 - 0.9039 (May 1 low)  
Technical Comment:
The RSI has just landed on a support around 30% and is reversing up. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold.