Thursday, September 27, 2012

Technical Perspective: USDCHF

USDCHF:
Remains to be well insync with the directional trend of the USDx as it remains within the higher trend. And currently @0.9404 with probable daily extensions @0.9450/65; which happens to be 50% retracement levels from the previous decline.
A convincing higher trend moving forward while momentum gradual build-up with the right amount of price movement is a healthy bull market as of today's market action. Price behavior relative to the USDx shows that there is still a good potential for the USDCHF to move higher moving forward in the coming week even after the end of the months trading. With minor pullback from the daily price highs relative to the closing of the week. This will be well in line with the month's closing adjustments for the end of the third quarter of the year. While the opening price levels and the near election period would more likely lend some credible support for the USD with minor price adjustments lower on a daily session to session closing.

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