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EUR/CHF Classical 07.23

EUR/CHF Classical 07.23

2010-07-23 04:41:00
Joel Kruger, Technical Strategist
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eurchf2

EUR/CHF: The market looks to have finally found a major base by the recent record lows at 1.3070, and the risks from here are for some significant additional corrective upside towards 1.4000 over the coming weeks. Daily studies have turned up from oversold, while weekly and monthly studies are just starting to break up to provide additional confirmation for bullish outlook. Look for any setbacks to be well supported in the 1.3400 area, with the market now looking to carve out the next higher low ahead of some fresh upside towards next key resistance by 1.3740 over the coming sessions. 

 

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