USD/CHF : Test of a major resistance
--- Follow up analysis ---
After a pullback on the major support at 0.9423, the pair USD/CHF took up its bullish movement to reach the psychological resistance at 0.95, level currently tested. The price continues to take support on its short term bullish slant (blue line in h1). In case of breakout of this slant, a new pullback on 0.9450 and 0.9423 in extension will be expected.
We continue to advise long positions as far as 0.9423 is support. The breakout of 0.95 will give a new buy signal and will allow the price to reach 0.9550 and the resistance at 0.9562 in extension.
In case of return below 0.9423, we will be neutral between this level and 0.9380 (level of the medium term bullish slant - black line).
Analysis published by Bruno, the 11/12/2012 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|
For more reports, go to Forextribe