Demo Trading Account Open a Live Account Deposit Funds Account Forms FXDD Home
Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading News: USDCHF Continues to Hold Trading Range

Posted by Mr. Danish FX on Tue, 09/02/2008 - 12:00am in

The USDCHF was able to break the 38.2% Fibonacci level (now support level) back on 8/8 and has been in a nice trading range ever since.  On 8/26, the pair was able to make a head fake above the key resistance of 1.1040, but was unable to build momentum dropping back into the range.  The USDCHF has tested the resistance a few times today during the Asian session with no success of breaking through.  We'll see if these levels hold as key CHF economic data is released at 1:45 AM.

    

Reply
The content of this field is kept private and will not be shown publicly.