USD/CHF Classical Technical Report 09.06
USD/CHF: The latest sharp reversal off of record lows just shy of 0.7000 is encouraging and could finally be starting to signal the formation for a major base. Weekly studies and monthly studies are also confirming with the formation of a very bullish bottom close. The latest acceleration of gains beyond critical resistance and a previous lower top at 0.8550 further confirms bullish bias and from here, we see room for fresh upside towards the 0.9000-0.9500 area over the coming days.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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