Swiss Franc Technical Outlook

Published July 18th, 2008 - 06:17 GMT
Al Bawaba
Al Bawaba

The short term picture remains clouded.



When in doubt, focus on facts.  The facts are that the rally from .9647 is in 3 waves and that since early May the USDCHF has made a series of lower highs.  This evidence is bearish.  As long as price is below the most recent high (1.0352), a bearish bias is warranted.  1.0250 may provide resistance.