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USD/CHF Classical Technical Report 12.02

USD/CHF Classical Technical Report 12.02

2011-12-02 06:31:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCHF_body_swiss1.png, USD/CHF Classical Technical Report 12.02

USD/CHF: The previous weekly break above the critical October highs at 0.9315 is significant and now opens the door for the next major upside extension over the coming weeks back towards parity. Daily studies are looking slightly stretched at current levels, so we would not rule out the potential for some corrective selling, but ultimately, look for any setbacks to be well supported in the 0.9000 area, where a fresh higher low is sought out.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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