EUR/CHF Weekly technical Outlook

14 November 2009 @ 12:20 pm EDT

EUR/CHF continues to engage in choppy sideway trading last week. Recent choppy fall should still continue as long as near term trend line resistance holds (now at 1.5128). A break below 1.5706 will target 1.5007 key support next. But after all, downside is expected to be contained above this 1.5007 support and bring strong rebound. On the upside, above the trend line resistance will flip bias back to the upside for retesting 1.5238 resistance. Break there will indicate that recent consolidations has possibly completed and will bring retest of 1.5364/5446 resistance zone.

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