Swiss Franc: The Downside Prevails

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Swiss Franc: The Downside Prevails

By Trading Central on May 28, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	117
Resistance2:	114
Resistance1:	112
Last:	108.48
Pivot:	112
Support1:	108
Support2:	104
Support3:	101

Pivot: 112

Our preference: Short positions below 112 with targets @ 108 & 104 in extension.

Alternative scenario: Above 112 look for further upside with 114 & 117 as targets.

Comment: the pair remains badly directed and is approaching its next rising trend line.

117
114
112
108.48 (last)
108
104
101

*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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