Usd/Chf has broken some significant resistance from the 23.6 Fib level and also the trendline that comes from the beginning of Sept also intersecting at the 23.6 Fib level. We look like we are going to trade higher now to the second trendline evident at 9470.

Short term as would be expected we are overbought...240 min charts showing a move lower...but although we need some correction we have got excellent support 9399 to 9350.

We would anticipate buying first level of support...adding to 9350, and holding for a move
higher.

As stated 9470 is trendline resistance...but if you look at the daily charts you can see we have made a base...suggesting the dollar/chf to trade higher, breaking 9470 and hitting 9502 which is the 38.2 med term Fib level...Cover longs to here as we would by this stage have had a good run on the topside.

SHORT TERM FIB LEVELS.
0.236   9417
0.38    9399
0.50    9385
0.618   9371
0.764  9353

MED TERM FIB LEVELS
0.236   9390
0.38    9502
0.50   9592
0.618  9681
0.764  9793

 

SUPPORT
9399*
9350/40
9285
9240
9195/90
9170/65
9140
9130/25
9090/85

 

RESISTANCE
9430
9445/55
9470**
9504
9535
9552
9587
9604*
9633

PIVOT POINTS
R 2  9479
R1  9439
PIVOT  9376
S 1  9336
S2  9273








 

The article was first published by CharmerCharts