USDCHF Finding Resistance Below The Double Resistance

February 10, 2013 in Chart Alert

USD/CHF had moved up strongly from the recent low of 0.9022. More than anything it can be attributed to the psychological support of 0.9000. The currency pair is finding resistance below the 50% retracement of the downward move during January 17th to February 1st. Just about this resistance is another resistance of 55-day EMA. The current 55-day EMA is at 0.9211.

USD/CHF Daily Chart

USD/CHF daily chart - resistance below 50% retracement

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