Tuesday, February 20, 2007

USD/CHF - Will it fall back to 1.1900 level.

Will USD/CHF fall by 500 pips to 1.1900. Well here i placed my weekly chart. On technical front its quite possible that we can see the 1.1900 level. but what about the Swiss economy and the data coming in and the key thing is interest rate from Swiss. Well on the other side the US. Even one great piece of eco data from USA will blow the hell of my chart like data from NFP, Trade balance or Hosing Market or even a bit of inflation pressure and Feds hawkish comments. Fall by 500 pips for Swiss by the help of Technical it'll be a really stretchy one. Look out the Weekly RSI which is also keep resisting the 2 year bear trendline a swhat u see the pair is resisting. A break above 1.2570 will negate the 400 odd pips correction. Anything break above 1.2570 it'll take you to 1.3230. Now 1.2190 is the key suppor for this pair. Once breakdown the level of 1.2190 then it'll take to 1.1900 level.

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