USD/CHF : Test of a major resistance
--- Follow up analysis ---
The breakout of our short term bullish slant (blue line) has led as forecast to a pullback on the support at 0.9423. However, the bullish trend is not in danger at this time. Indeed, the price just broke the bearish slant (purple line in h1) who led the correction. The pair USD/CHF is now close from its medium term bullish slant (black line).
We continue to advise long positions as far as 0.9423 is support. A return above 0.9460 will comfort our bullish feeling and the breakout of the major resistance at 0.95 will give a new buy signal. We will then expect a test of the next resistance at 0.9562.
In case of return below 0.9423, we will be neutral between this level and 0.9380 (level of the medium term slant).
Analysis published by Bruno, the 11/16/2012 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|
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