Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


USD/CHF Classical

By Joel Kruger, Technical Strategist
22 December 2009 07:10 GMT


USD/CHF: The break back above 1.0340 in the previous week has been a critical development which now greatly increases the likelihood of a material shift in the structure in favor of additional USD gains over the coming weeks and months. The market has also now broken back above the 100-Day SMA for the first time since May 2009, while the daily RSI has reached its highest levels in over a year, which further strengthens our core bullish outlook. From here, look for any setbacks to now be very well supported ahead of 1.0200, with the market now seen eyeing a test of next resistance by 1.0700 over the coming days.


Written by Joel Kruger, Technical Currency Strategist for
If you wish to receive Joel's reports in a more timely fashion, e-mail and you will be added to the "distribution" list.

If you wish to discus this topic or any other feel free to visit our Forum page

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

22 December 2009 07:10 GMT