Swiss Franc: The Downside Prevails

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Swiss Franc: The Downside Prevails

By Trading Central on July 1, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	116
Resistance2:	113
Resistance1:	111.5
Last:	107.65
Pivot:	111.5
Support1:	106
Support2:	104
Support3:	101.3

Pivot: 111.5

Our preference: Short positions below 111.5 with targets @ 106 & 104 in extension.

Alternative scenario: Above 111.5 look for further upside with 113 & 116 as targets.

Comment: the pair has struck against its bearish channel upper boundary and should reach its next support.

116
113
111.5
107.65 (last)
106
104
101.3

*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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