Swiss Franc (CHF) Technical Major Currencies (2010-12-09)

By @ibtimes on

Morning Report

The pair continues yesterday's downside moving targeting the minor ascending channel's support at 0.9775. Stochastic entered oversold areas and might cause fluctuation around 0.9855 - 0.9885 areas before resuming the expected bearish intraday trend. The suggested bearish direction requires stability below 0.9920, where targets are around 0.9660.

The trading range for today is among the key support at 0.9660 and the key resistance at 0.9920.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.

Previous Report

Weekly Report

Support0.98000.97750.97000.96650.9600Resistance0.98550.98850.99250.99701.0000RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9855 targeting 0.9775 and stop loss above 0.9925, might be appropriate.

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