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USD/CHF Classical Technical Report 12.21

USD/CHF Classical Technical Report 12.21

2011-12-21 07:08:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCHF_body_swiss1.png, USD/CHF Classical Technical Report 12.21

USD/CHF: The pair looks like it is in the process of carving a major base ahead of some significant upside over the coming weeks and months. The latest rally seems to be gaining momentum, and we anticipate that the market will soon clear the key October highs at 0.9315. Above 0.9315 should then accelerate gains and open the next major upside extension towards parity. Any setbacks from here should be very well supported above 0.8900.

--- Written by Joel Kruger, Technical Currency Strategist

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

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