USD/CHF Technical Analysis September 1, 2011

USD/CHF fell hard on Wednesday, after bumping up against a weekly trend line for a few days. The pair fell straight to 0.8000, and area that was once massive resistance. The bounce from there is good for about 60 pips at the time of writing, which is fairly strong for this typically slow-moving pair. The breaking of the trend line and the 0.83000 level is going to be vital for this pair to continue the bullish move in the future. In order to sell – we need to see 0.8000 broken through significantly.

Written by FX Empire