USD/CHF Technical Analysis (US Dollar / Swiss Franc)

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February 1, 2013 2:01 AM EST

Updated the:
USD/CHF : The Swiss Franc has not said its last word

Sentiment :



--- Follow up analysis ---
The Swiss Franc has not said its last word. the pair USD/CHF showed us this yesterday by a fall of 100 pips in the day. The price is currently testing the medium term major support at 0.9090 . This level corresponds to one of the slant of the medium term downtrend channel (purple lines). In the short term, this bearish rally has resulted in an output of the downtrend channel from the bottom.

We continue to advise long positions as far as 0.9172 is resistance. A pullback on this level should not be excluded before a resume of the downtrend. The support being tested could lead to a technical rebound to that level which corresponds to the lower limit of the short term bearish channel , as well as a parallel of the medium term downtrend channel.

The break of 0.9090 will give a new sell signal. The price will then continue its movement towards the psychological threshold at 0.90. In case of return above 0.9172, we will be neutral between this level and 0.9250
Full analysis

Analysis published by Bruno, the 01/31/2013 at 08h50 GMT+2

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