Swiss Franc: The Downside Prevails

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Swiss Franc: The Downside Prevails

By Trading Central on May 19, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	119
Resistance2:	117
Resistance1:	114
Last:	111.41
Pivot:	114
Support1:	110
Support2:	108
Support3:	104

Pivot: 114

Our preference: Short positions below 114 with targets @ 110 & 108 in extension.

Alternative scenario: Above 114 look for further upside with 117 & 119 as targets.

Comment: the pair is rebounding on its support but remains below its resistance, the RSI is capped by a declining trend line.

119
117
114
111.41 (last)
110
108
104

*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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