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 Breaks Key Level

Posted by Mr. Danish FX on Wed, 09/03/2008 - 12:07am in

With the USD's firm tone across the board, the USDCHF was able to finally break and hold above the once strong resistance of 1.1040.  Assuming the USD will hold this momentum, the pair now has upside resistance at the 50.0% Fibonacci level, around 1.1200.  The old resistance at 1.1040 should provide some support now as well.  The pair held between 38.2% and 1.040 for nearly a month (8/8 until yesterday).  We'll see if the USDCHF has found a new trading range...     

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