29th Aug - USD/CHF Pullback Trying to Find Support
29 August 2013
MONTHLY CHART:
The market has recovered to put pressure on the falling resistance line. This has combined with resistance from around the 0.9674 Mar-08 low area to hold the recovery from 2011 low in check.
DAILY CHART:
The slip back from the old 76.4% retracement has found temporary support from a rising support line, with the lower 0.9128 13-Jun low remaining intact for now.
We continue waiting to see if this support will trigger a recovery – a rally through the 0.9400 area would be encouraging. Failure of these supports would be a clear bear sign.
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29th Aug - Gold Recovery Reaches 38.2% Level