Swiss Franc (CHF) Technical Major Currencies (2010-05-13)

The pair is still fluctuating around pivotal resistance 1.1120; whereas the bullish technical pattern that appears in our previous report is still intact and awaits a start signal that will be achieve through building a base above 1.1120. MA 50 is supporting the pair to move to the upside, therefore we expect a bullish intraday trend that targets 1.1250 - 1.1290 and requires the four hour close above 1.1050.

The trading range for today is among the key support at 1.0985 and the key resistance at 1.1290.

The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2000.

Previous Report Weekly ReportSupport1.10701.10501.09851.09251.0875Resistance1.11201.11851.12501.12901.1315RecommendationBased on the charts and explanations above our opinion is buying the pair and stabilizing above 1.1120 targeting 1.1250 and stop loss below 1.1050, might be appropriate.