USDCHF tests intraday support

Written February 2, 2012 at 10:15 AM EST by  

The USDCHF has come off and moved below the 100 bar MA on the 5 minute chart above. The next target to get through is the 200 bar MA (green line) . This corresponds with a trendline earlier which was broken on comments from Chinese PM Wen, but was quickly reversed (I will reestablish the old trendline as support)  A break below this key intraday level should solicit stops. Staying above gives shorts a reason to buy with limited risk (sell on the break)

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