Swiss Franc: The Downside Prevails

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Swiss Franc: The Downside Prevails

By Trading Central on November 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	108
Resistance2:	106
Resistance1:	104.4
Last:	101.53
Pivot:	104.4
Support1:	100.3
Support2:	99
Support3:	97.3

Pivot: 104.4

Our preference: Short positions below 104.4 with targets @ 100.3 & 99 in extension.

Alternative scenario: Above 104.4 look for further upside with 106 & 108 as targets.

Comment: the pair has struck against its resistance and should face a weakness as the RSI is capped by a declining trend line.

108
106
104.4
101.53 (last)
100.3
99
97.3

*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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