Friday, December 7, 2012

FBS : USD/CHF: wait for the range to break

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USD/CHF: wait for the range to break

Thursday, December 6, 2012 - 12:48
USD/CHF keeps consolidating in the 0.9300/9240 area. Today’s trading range is even narrower (0.9280/55).
Commerzbank is long USD/CHF at 0.9264 with stop at 0.9215 and target of 0.9500. UBS, on the other hand remains bearish. We recommend staying pat until the range is breached. Tomorrow’s NFP release in the US (13:30 GMT) may finally shake the market and provide the necessary driver to either side.
Resistance: 0.9300, 0.9350 (55-day MA), 0.9420 (200-day MA).
Support: 0.9240, 0.9125, 0.9180, 0.9100.
Chart. Daily USD/CHF

Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us


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