USDCHF: This Week's Hot Technical Formation

Published October 27th, 2006 - 07:37 GMT
Al Bawaba
Al Bawaba

Current Price: 1.2501

 

The weekly chart shows projected breakout, support, and resistance levels.  A break of one of these levels would establish the larger bias.  Notice the breaks of the pivot zone since 2002.  5 waves down from 1.2703 and bullish divergence with hourly RSI point to a short term bottom, possible already in place at 1.2467.      

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