Swiss Franc (CHF) Technical Major Currencies (2011-02-22)

By @ibtimes on

Morning Report

The pair continues trading within a narrow range since yesterday, with some minor upside slant as we await for it to retest through the pair 0.9525 to activate yesterday's suggested scenario. Stochastic has gradually lost some bullish momentum on the four hour interval, which makes us hold onto the expected bearish intraday trend that begins its key targets around the sideway range's support level shown above. SMA 50 supports the expected downside, while we note that the breach of 0.9525 could postpone achieving suggested targets.

The trading range for today is among the key support at 0.9270 and the key resistance at 0.9620.

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

Previous Report

Weekly Report

Support0.94500.93650.93300.92700.9200Resistance0.95250.95750.96200.96900.9750RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9525 targeting 0.9330 and stop loss above 0.9620, might be appropriate.

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