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Wednesday, 10 February 2010 GMT
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Trend of the Day: USD/CHF
Tuesday, 09 December 2008 04:59:00 GMT
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The US Dollar took some punishment today as bonds sold off and stocks began to rally. However, one day of losses does not change the bullish dollar trend. Though USDCHF upward momentum has slowed, it remains above its 200 SMA, Stochastics points upward and MACD and its signal line are above the zero horizontal reference line all of which are bullish signs. Price is currently near trend line support at the 1.2000 area. The December 4th low of 1.1924 would serve as a stop area. A limit could be set at 1.2467 near the June 14th 2007 high.
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