Short Term Pullback in USD/CHF Now In Process
14 October 2011
WEEKLY CHART:
Recovery here, from just above the 2.618 swing projection off prior Nov-09/Jun-10 upmove, has now tested potential resistance from the underside of the old channel. See also below.
DAILY CHART:
Breach of the bear channel top set the bullish scene.
S/term resistance has now emerged near the 76.4% level of the Dec-10/Aug downleg. The s/term chart structure also hinted at bull fatigue.
With a s/term setback now in process note first potential support from the 0.8788 23.6% pullback level, ahead of the 0.8463 38.2% mark.
Next story:
Cotton Remains Close to Key Support 
Previous story:
The Gilt bulls remain intact but cautious