Swiss Franc: Rebound Expected

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Swiss Franc: Rebound Expected

By Trading Central on April 27, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	122.5
Resistance2:	119
Resistance1:	117
Last:	114.67
Pivot:	113
Support1:	113
Support2:	111.5
Support3:	108

Pivot: 113

Our preference: Long positions above 113 with targets @ 117 & 119 in extension.

Alternative scenario: Below 113 look for further downside with 111.5 & 108 as targets.

Comment: the pair is rebounding on its rising trend line, the RSI is turning up.

122.5
119
117
114.67 (last)
113
111.5
108

*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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