USD/CHF Technical Analysis March 4 8 2013



USDCHF has broken above the upper trend line line of the descending channel, as per the daily timeframe dollar/Swiss chart below.usdchf daily technical analysis March 4 8 2013

This comes as the US dollar index is trading around the USDX 82.30 area, a price not seen since late August 2012, after a break above recent range resistance.

Guest post by Nick Simpson of www.forex-fx-4x.com

The initial surge higher for USDCHF has met with interim resistance around 0.9465, a longer term price pivot area.

Any sustained upside brings the 0.9500 round number as a focus, a level coinciding with the previous resistance swing high from 13/11/12 (0.9510).

The 0.9380 area has seen recent resistance and is an area we will be monitoring on any corrective move lower. 

We will likewise be paying attention to price action around EURUSD 1.3000 for a broad directional bias on the dollar.

Any news, opinion, analysis, price quote or any other information should be taken as general market commentary only and not as advice to trade on. Omissions and errors may occur.
 


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