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07th Nov - USD/CHF Bouncing Off Multiple Supports

07 November 2013

WEEKLY CHART:

Dual support on this chart has

come from the 0.8870 38.2%

pullback level and channel base

projection. A modest recovery has

been seen so far.

DAILY CHART:

After violation of the early Feb low

the downmove found clear

support from the bear channel

base projection (this coincided

with the Weekly chart supports).

Following initial recovery price

now needs to push through

resistance offered by the old rising

support/return line at 0.9250

currently, in order to excite the

bulls.

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Next story:
15th November - Watch the European Bond Markets

Previous story:
07th Nov - Coffee Falls to Long Term 76.4% Retracement

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