Chart Alert: USD/CHF Near The 200-Day Moving Average Resistance
February 21, 2013 12:40 pm GMT+0 in Chart Alert
Since September 11th when USD/CHF had broken below the support of 200-day moving average, the earlier support has been proving to be a strong resistance.
For nearly five and a half months USD/CHF has not broken over this resistance. There have been 4 attempts to test this resistance and out of that one attempt failed almost at that level. The current price is 0.9330 and the current 200-day moving average is at 0.9346. A decisive break over that may bring some good gains but we expect a correction before that. The correction may prove to be a reversal of this short-term upward jump.
USD/CHF Daily Chart with 200-day EMA