Swiss Franc Could See January 2011 High
60 Minute Bars
Prepared by Jamie Saettele, CMT
The rally from 9305 is impulsive (5 waves) and warns of a turn lower prior to additional strength. Expect support at 9440/70 (former resistance and 50% retracement of rally from 9305). Upside levels of interest in the coming weeks and months are the 2011 high at 9784 and the December 2010 high at 10065.
Bottom Line – buy dips into 9440/70, stop 9305, targets 9785, 10065
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.