Swiss Franc (CHF) Technical Major Currencies (2012-02-07)

Yesterday, the pair has tested one of most important resistances at 0.9260 which forced the pair to show some kind of bearish tendency as seen on the provided daily graph. But, the closing was achieved above SMA 100; whilst momentum indicators remain positive. In result, we hold onto our bullish predictions over intraday basis; noting that a break above 0.9260 will bring additional buying interests. On the downside, areas of 0.9030 should hold to protect bulls.

The trading range for today is among key support at 0.9030 and key resistance at 0.9400.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

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