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USDCHF AT Support 1.0950

Wed, Aug 27 2008, 09:47 GMT
by Forex Hound Analysis Team

ForexHound.com


USDCHF failed to break decisively above the 1.10 resistance area and is now testing the support trendline connecint a series of higher lows starting mid July.  First target after the potential break below the indicated support is last weeks low at 1.0840, this level should be a significant bearish target but if this gets broken we see no clear support until the 1.0600 area. Conversely a bounce form current levels is going to focus on yesterday's high at 1.1090 with 1.11 just a few pips away.

USD CHF Chart


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