USD/CHF : Test of a major resistance
--- Follow up analysis ---
The correction has finaly continued on the pair USD/CHF who get back below the major support at 0.9423 and is currently testing its medium term bullish slant (black line). So, we are neutral between 0.9380 (low of November 7th) and 0.9423.
We advise to wait an exit of this range to take position :
- Only long positions in case of return above 0.9423. We will then expect a new test of the major resistance at 0.95
- Only short positions if 0.9380 is broken (the bullish slant will be broken too). The bearish movement should then pursuit towards test of the support at 0.9334 in the first place.
Analysis published by Bruno, the 11/20/2012 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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