USD/CHF : Exit of the medium term bearish channel, what can be done?
--- Follow up analysis ---
The pair USD/CHF has continued its bearish movement these last days after its return into its medium term bearish channel (purple lines). The price has broken its low of September 17th. The recent breakout of 0.9250 just gave us a new sell signal. The support at 0.92 should be reach quickly. A pullback on the upper band of the channel stay possible as far as 0.92 is support.
We continue to advise short positions as far as 0.9341 is resistance. The breakout of 0.92 will give a new sell signal and should allow the price to reach the support at 0.91.
In case of return above 0.9341, we will be neutral between this level and 0.9422.
Analysis published by Bruno, the 10/17/2012 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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