Swiss Franc (CHF) Technical Major Currencies (2012-02-09)

The pair has continued showing conflicting price behaviors below SMA 100 as seen on the provided daily chart. It is very close to the previous detected support of 0.9105 while Stochastic also becomes close again to the oversold areas despite showing negative crossover. As a consequence, we willstay asideover intraday basis due to the sensitivity of the current technical levels; noting that, a break below 0.9105 will threaten the initial short term support of 0.9030. But, on the upside, coming above 0.9175 will bring the positive picture back into focus.

The trading range for today is among key support at 0.8965 and key resistance at 0.9310.

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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