Swiss Franc Technical Outlook

Published May 12th, 2009 - 06:32 GMT
Al Bawaba
Al Bawaba

The USDCHF decline should extend a bit lower.  1.0925 is the 61.8% of the advance from 1.0367 and potential support.  Like the EURUSD, there is potential for a countertrend move (a rally in this case) to short term Fibonacci zone (1.1164-1.1262).  Only a push through 1.1423 would suggest that a bottom is in place.