USD/CHF’s Break Over 0.9340 Still Leaves Many Hurdles On The Way

December 9, 2012 in Chart Alert

USD/CHF has broken over 0.9340 resistance but as of now it can only be considered as a possible correction. The currency pair had broken below the support of 200-day moving average and since then that support has been acting as resistance. Similarly after the break below the mid-term support trend-line, that support has been acting as resistance.

USD/CHF And 200-Day Moving Average (Now Near 95.20)

usd/chf and 200 day moving average - daily chart

USD/CHF weekly Chart: The Support Turned Resistance (Now Near (96.20)

usd/chf support turned resistance - weekly chart

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