USD/CHF : Exit of the medium term bearish channel, what can be done?
--- Follow up analysis ---
The pair USD/CHF got out yesterday of its neutral zone 0.94/0.9440 from the bottom, giving us a sell signal. The price is currently testing the upper band of its former bearish channel (purple lines) as resistance. A return into the channel will comfort the sell signal already given. We will then expect a return on 0.93 and 0.9250 in extension.
We maintain to trade only short positions as far as 0.94 is resistance. A pullback on this level stay possible as far as the upper band is support.
In case of return above 0.94, we will be again neutral between this level and 0.9440. We will then advise to wait a new exit of this range to take position.
Analysis published by Bruno, the 10/12/2012 at 08h50 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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