USD/CHF : Exit of the medium term bearish channel, what can be done?
--- New analysis ---
Despite a new test of the support at 0.93 at the beginning of the week, the pair USD/CHF has failed to pursuit its bearish movement and got out of its medium term bearish channel (purple lines). The price has also broke the resistance at 0.94 and so we are currently neutral between this level and 0.9440 (high of September 30th).
We advise to wait an exit of this range to take position:
- Long if 0.9440 is broken. We could then target a test of the resistance at 0.95 and 0.9540 in extension
- Short in case of return below 0.94. A return on 0.93 will be then expected.
Analysis published by Bruno, the 10/10/2012 at 08h40 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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