USD/CHF : The bearish rally doesn't stop
--- Follow up analysis ---
The pair USD/CHF has failed to pursuit its bearish rally these last days and the price made a test of the upper band of the medium term bearish channel (purple lines). However, the bearish trend is not in danger and the price got back below 0.94. On a shot term view, the price is currently testing the lower band of its bullish channel (black lines) in h1.
We continue to advise short positions as far as 0.94 is resistance. An exit of the channel in h1 will comfort our bearish feeling. We could then target a return on 0.93 and 0.92 in extension.
In case of return above 0.94, we will be again neutral between this level and 0.9440.
Analysis published by Bruno, the 10/02/2012 at 08h45 GMT+2
Chart of the pair USD/CHF - Timeframe 4H
Chart of the pair USD/CHF - Timeframe 1H
|USD/CHF Live Chart - Timeframe : 4h|
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