EURCHF: Mobile Average act as resistance

  @ibtimes on January 20 2010 8:10 AM

The pair continues with the bearish trend and on the daily chart we see a strong support at 1.4738. If it's lost, the pair will head down to 1.4707, before March 2009 low at 1.4588. Like yesterday, the 200 days MA are in play and today prompted a rebound, when the price was trying to get closer to the resistance at 1.4775. If the MA is broken, the price will also have to clear 1.4775, as it's the most important level of the last three days.

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