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USDCHF Downside Prevails by Trading Central
Written by article default Friday, 18 September 2009 06:48
Update on supports and resistances.
| Resistance3: | 110 |
| Resistance2: | 108 |
| Resistance1: | 106 |
| Last: | 102.84 |
| Pivot: | 106 |
| Support1: | 101.3 |
| Support2: | 99 |
| Support3: | 97.3 |
Our preference: Short positions below 106 with targets @ 101.3 & 99 in extension.
Alternative scenario: Above 106 look for further upside with 108 & 110 as targets.
Comment: the pair has broken below its support and should face a further weakness as the RSI is badly directed.
110
108
106
102.84 (last)
101.3
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