USD/CHF Technical Analysis for July 5, 2011

The USD/CHF pair rose on Monday, only to fall after piercing the 0.85 level. The pair has been bearish for ages, and this is the top of a recent consolidation range between 0.85 and 0.83. As such, we favor shorting this pair, and a break of Monday’s lows gets us doing that. If not – we will simply wait until the market reaches another resistance area and watch for selling opportunities there.

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