Swiss Franc (CHF) Technical Major Currencies (2010-01-06)

 @ibtimes
on January 06 2010 1:43 AM

Morning Report

The dollar versus swissy stabilized within a sideway range shown previously, while noting momentum indicatorshave enteredoverbought areas which revive chances of resuming the expected bearish direction once again. The bullish correction that was accomplished and bearish momentum gains are factors that make us expect a bearish direction today; requiring the assurance of the breach of 1.0280 that targets 1.0170 and requires the four hours to close below 1.0400.

The trading range for today is among the key support at 1.0170 and the key resistance at 1.0500.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Weekly ReportSupport1.02801.02001.01701.01401.0090Resistance1.03751.04001.04501.05301.0610RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0280 targeting 1.0170 and stop loss above 1.0375, might be appropriate.

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