USD/CHF analysis (July 13, 2011)

The story remains the same with the USD/CHF which is still evolving in its daily range between 0,8275 and 0,8550.
After a new test of all time low yesterday, we might see a bullish resumption today.

USD/CHF: daily chart

The studies are not oversold yet though and still pointing to further losses thus we have to be cautious while trading a possible bounce.
A conservative approach would be to enter long only with a break above 0,84 with a target at 0,85.

A break below 0,8275 would of course negate the bullish scenario.