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USD/CHF Classical Technical Report 02.17

USD/CHF Classical Technical Report 02.17

John Kicklighter, Chief Strategist
Daily_Classical_USDCHF_body_swiss1.png, USD/CHF Classical Technical Report 02.17

USD/CHF: Setbacks have been very well supported in early 2012 ahead of 0.9000, and it looks as though the market could finally be carving a medium-term higher low ahead of the next major upside extension. The recent break back above 0.9265 reaffirms, and we will now look for a weekly close above this level to provide added confirmation for probability of underlying bullish resumption. Ultimately, look for a push back above 0.9600 and towards 1.0000 over the coming weeks. Only a break below 0.9000 would negate and give reason for concern.

--- Written by Joel Kruger, Technical Currency Strategist

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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