FOREX ALERTS >>
DailyFX Plus Login

chf fundamentals

Article

Swiss Franc Struggles Above 1.2900
Thursday, 29 September 2005 06:53:22 GMT  |  Sam Shenker Technical Currency Analyst
Delicious
Facebook

Swiss Franc longs once again failed to gain momentum below the 1.2900 figure as the price action remained on the side of advancing dollar bulls. As greenback longs finish consolidating their gains and resume their advance toward the psychologically important 1.3000 figure, the next move by the dollar bulls will most likely see the pair advance toward the Swiss Franc defenses around 1.3081,a level marked by the 2005 High. A sustained break to the upside will most likely see the dollar longs push the pair toward the 1.3226, a CHF defensive position established by the April 26, 2004 daily high. A further advance by the dollar bulls will most likely see the pair retreat toward the 1.3389, a level marked by the October 6, 2003. Indicators continue to favor dollar longs with both momentum indicator and MACD above the zero line. Stochastic remains extremely oversold thus adding to the trending market outlook.

More Articles

Feedback Form