USD/CHF to slip - Technical Analysis - Dukascopy Bank

Thu, 01 Dec 2011 08:33:22 GMT
Source: Dukascopy
 
© Dukascopy
"Switzerland is increasingly feeling the impact of the global slowdown"
- VP BANK (based on CNBC)

пЃ® Industry outlook
Support at 0.9173 has been breached. This implies continuation of current pair's weakness down to 0.8950 and 0.8730/0.8654. Nevertheless, subsequent support at 0.8555/50 is very unlikely to give up should the dips extend lower.

пЃ® Traders' sentiment
Comparative to the other 5 major currencies the Swiss Franc is the least attractive at the moment. Therefore USD/CHF is composed of 68.53% by bullish traders and of 31.47% by bearish market participants.

пЃ® Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9233, followed by R2 and R3 at 0.9335 and 0.9419 respectively.

пЃ® Short position opened
Bearish market players will pay attention to a near-term support at 0.9047. The downtrend continuation will establish following targets for traders: S2 at 0.8963 and S3 at 0.8861.
© Dukascopy

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