USD/CHF Index: The Upside Prevails.

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USD/CHF Index: The Upside Prevails.

By Trading Central on February 23, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	126.05
Resistance2:	122.5
Resistance1:	119.05
Last:	116.18
Pivot:	113
Support1:	113
Support2:	111
Support3:	108.4

Pivot: 113

Our preference: Long positions above 113 with targets @ 119.05 & 122.5 in extension.

Alternative scenario: Below 113 look for further downside with 111 & 108.4 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

126.05
122.5
119.05
116.18 (last)
113
111
108.4

*USD/CHF Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the SWISS FRANC. For details go to www.ise.com

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