Daily Technical Outlook On Usd/chf By Acetrader - Forex Forum

Updating time : 17/07/2008 00:33 GMT

USD/CHF - 1.0172... Although the pair remained under pressure in Asia due
to further slide in Asian stock markets, dlr's broad-based rebound in European
morning lifted price fm 1.1030 n subsequent rally abv 1.0142 res confirms recent
decline has formed a temporary low earlier this week at 1.0011 n consolidation
with upside bias is seen for a retracement of intermediate fall fm 1.0541,
however, as hourly oscillators' readings wud be in o/bot territory on next rise,
further strg gain abv 1.0213 (38% r of 1.0541-1.0011) is not envisaged n reckon
res at 1.0251 wud cap upside n yield retreat later today or tom.

Looking ahead, as long as daily res at 1.0353 holds, dlr's 'erratic' fall
fm 1.0625 is likely to pressure dlr lower, however, a daily close below pivotal
chart sup at 0.9870 is needed to confirm LT decline has finally resumed n yield
a re-test of April's 08 record low at 0.9630 in later this month or in August.

Today, despite easing fm o/n high of 1.0189, reckon 1.0142 (prev. res)
wud contain pullback n yield marginal gain to 1.0210/20. Only below 1.0100/10
wud signal intra-day top is made n risk weakness to 1.0050/60 but but reckon
1.0030 shud remain intact, yield further choppy consolidation...

Visit My Website