USD/CHF Technical Analysis for June 29, 2011

The USD/CHF fell on Tuesday, breaking the 0.83 level, but managed to form a hammer on Tuesday. This shows that there is a possible bounce coming in this market. The pair isn’t one we would buy, but would rather wait for a nice bounce to sell. The 0.85 area would be the first massive resistance area. If we break the bottom of the Tuesday candle – that would be very, very bearish as well.

Written by ForexMansion.com