By Trading Central on May 7, 2010 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	119
Resistance2:	116
Resistance1:	112.75
Last:	111.2
Pivot:	108
Support1:	108
Support2:	105
Support3:	101.25

Pivot: 108



Our preference: Long positions above 108 with targets @ 112.75 & 116 in extension.



Alternative scenario: Below 108 look for further downside with 105 & 101.25 as targets.



Comment: the RSI is supported by a rising trend line, the pair has broken above its resistance and should post a further advance.



119

116

112.75

111.2 (last)

108

105

101.25







*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