Weekly Technical Stategist USDCHF 12 10 11

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Sunday, 10th of Dec, 2011
WEEKLY TECHNICAL STRATEGIST EURUSD
FXTechstrategy Team
info_at_fxtechstrategy.com
USDCHF Pulls Back But Still Retains Medium Term
Uptrend. USDCHF The pair may have backed off
the 0.9326 level and closed slightly lower the
past week but continues to hold on its medium
term bullish tone set from the 0.7068 level, its
Aug 092011 low. This leaves the possibility of
returning to the 0.9326 level on the cards on
ending its present price hesitation. Further out,
resistance lies at the 0.9400 level, its psycho
level with a breach of there creating scope for
more upside gain towards the 0.9503 level, its
Feb 222011 high. Alternatively, the risk to our
analysis will be a return below the 0.9063 level,
its Nov 302011 low with a break turning focus to
the 0.8954 level, its Nov 1111 low followed by
the 0.8568 level, its Oct 272011 low. A breach
of here will pave the way for further weakness
targeting its psycho level at 0.8400 level. All
in all, the pair remains biased to the upside
despite its continued pullback attempt. To
read the full version of this 7 model currency
analysis click here FXT Technical Strategist
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