USD/CHF : Test of a major resistance
--- New analysis ---
Last week, the pair USD/CHF has for a long time tested the support at 0.93 before a strong bullish rally, pushing back the price above 0.9380 (buy signal). The price is now going to test the major resistance at 0.9423.
We advise to trade only long positions as far as 0.9341 is support. The breakout of 0.9423 will give a strong new buy signal. This level gathers all highs of October. We will then expect a purrsuit of the movement towards 0.95.
In case of return below 0.9341, we will be neutral between this level and 0.93.
Analysis published by Bruno, the 11/05/2012 at 08h50 GMT+2
Chart of the pair USD/CHF - Timeframe 4H
Chart of the pair USD/CHF - Timeframe 1H
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