usd-chf

USD/CHF – The market is attempting to recover after posting fresh 2009 lows by 1.0030 and just shy of parity on 23Oct. While the overriding trend is still intensely bearish, we like the idea of looking to buy at current levels, with both shorter-term and medium-term studies showing the need for a healthy rebound. The recent break back above 1.0230 is really encouraging with the market putting in a strong bullish reversal signal. Look for setbacks to now be well supported ahead of 1.0100.  Next key resistance comes in by 1.0355.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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