Weekly Technical Outlook USDCHF

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Saturday, 28th of July, 2012
WEEKLY TECHNICAL STRATEGIST USDCHF
FXTechstrategy Team
info_at_fxtechstrategy.com
USDCHF Loses Upside Momentum, Weakens..
USDCHF Although the pair remains biased to the
upside medium term, it now faces bear threats
after reversing its previous week losses to close
lower. This development leaves USDCHF vulnerable
to the downside in the new week with the
possibility of targeting the 0.9579 level, its
July 052012 low. A breach of here will call for
a run at the 0.9480 level followed by the 0.9421
level. We expect a combination of these levels to
hold and possibly turn the pair higher if tested.
Its weekly RSI has turned lower suggesting
further weakness. On the upside, the pair will
have to break and hold above the 0.9970 level to
reverse its present bear threats and pave the way
for a push further higher towards the 1.0000
level, its 200 weekly ema. We expect the pair to
face price hesitation at this level due to its
psychological importance. But if it breaks, the
1.0050 level will be targeted. On the whole, the
pair remains biased to the upside in the medium
term though facing bear threats. To read the
full version of this 7 model currency analysis
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