19th Apr - USD/CHF Holding at 23.6% Support
19 April 2012
WEEKLY CHART:
The earlier breach of channel top resistance was a bullish sign. So far the 0.9674 Mar-08 low has capped the recovery.
DAILY CHART:
The drop back from the Jan high found support at the 23.6%/ channel base support area, and it has so far held well.
A breach of this would open up the lower 0.8635 38.2% retracement.
On the other hand a break through 0.9314/34 resistance (former highs) would provide encouragement to the bulls and set focus on a return to the 0.9594 Jan high.
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19th April - Is buying Sterling the best way to register bearishness for the Euro? 
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