The USDCHF tests the 1.0825 support level and bounces

Written February 19, 2010 at 11:57 AM EST by  

gregmike-00514

The USDCHF went down and tested the 1.0825 level where the old high from last Friday, and the high from yesterday (prior to the surge higher) . The price dipped just below the level at 1.0819 and 1.0821 but each time the price bounced.  A move back below may not be so lucky.   On the topside look for sellers against the 1.0847 level (100 bar MA on the 5 minute chart).  WE should see sellers against this moving average with stops above it.

gregmike-00515

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