Swiss Franc (CHF) Technical Major Currencies (2012-02-17)

By @ibtimes on

Morning Report

After touching the clue level of 0.9300, the pair has moved once again to the downside yesterday. Indeed, the daily closing was achieved above SMA 100 but we can see a clear contrarian between momentum indicators- RVI and Stochastic- and that reflect the current technical hesitation. In result, we will avoid trading over intraday basis; noting that a break above 0.9230 once again will weaken 0.9300-0.9310 levels this time.

The trading range for today is among key support at 0.9000 and key resistance at 0.9360.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report

Weekly ReportSupport0.91750.91400.91250.91050.9080Resistance0.92300.92600.93100.93600.9400RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.

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