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USD/CHF: Development Staggered And Slow

USD/CHF: Development Staggered And Slow


USD/CHF Hourly Chart

BIAS: This should be a mostly bullish day

Resistance: 1.0175-80 1.0225 1.0244-54 1.0280-90Support: 1.0143 1.0104-21 1.0085 1.0065

MAIN ANALYSIS: Yesterday losses stalled just below the 1.0147-55 area – at 1.0143. From here, the rally should extend back to the 1.0244-54 area for a correction of around 20 points before heading up to the 1.0280-1.0309 projection target. Take care here, as I feel the correction should be relatively deep.

COUNTER ANALYSIS: Any break below the 1.0243 low and also 1.0121 would extend losses to probably test the 1.0085-04 area (max 1.0065) but then see the larger uptrend resume.

MEDIUM TERM ANALYSIS:25th November: The development here is still staggered and slow. Overall, it still suggests gains and back above the 1.0239 high and to a minimum of 1.0383 … but then take care.

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