Forex Trading: USD/CHF Bends But Can’t Break

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Forex Trading: USD/CHF Bends But Can’t Break

By Greg Michalowski on February 19, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The USD/CHF has moved below trendline support on two occasions, but each time the price has rebounded back above. The 100 hour moving average at the 1.1696 level currently is also helping provide support. The low today has been at the 1.1702 level today.

A move below the level should be met by selling. However, the pair needs to break below to switch the sentiment to the downside. Until then, expect intraday buyers again the level. A break below will target 1.1649 intraday.

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