USDCHF: Pausing within its short-term uptrend

Tuesday, October 15, 20130 comments


USD/CHF has thus far successfully tested the support area given by 0.9070 and by the rising channel. Further short-term strength is favored. Monitor the key resistance at 0.9139. Another support stands at 0.9016 (09 October 2013 low), whereas another resistance is at 0.9225.

In the longer term, a sideways move between the key supports at 0.9022 (01 February 2013 low) and 0.8931 (24 February 2012 low) and the key resistances at 0.9972 (24 July 2012 high) and 1.0067 (01 December 2010 high) is favored. Therefore, the medium-term downside risk seems limited. 
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