USDCHF Trading Higher

USDCHF pushed higher on Tuesday reaching the 1.1250 resistance area and not showing the bearish signs we were expecting from a technical point of view. Breaking yesterday’s high will turn the 1.1250 area into support and will shift focus towards the highs above 1.1400. Conversely failure to push through will bring our attention to the 1.1050 zone where we have significant support. The pair is very much influenced by the major events happening around the world such as the liquidity crisis and the US plan to adress the banking problems, with this in mind we’re thibnking that smaller positions and closer stops are the norm.

USDCHF pushed higher on Tuesday reaching the 1.1250 resistance area and not showing the bearish signs we were expecting from a technical point of view. Breaking yesterday’s high will turn the 1.1250 area into support and will shift focus towards the highs above 1.1400. Conversely failure to push through will bring our attention to the 1.1050 zone where we have significant support. The pair is very much influenced by the major events happening around the world such as the liquidity crisis and the US plan to adress the banking problems, with this in mind we’re thibnking that smaller positions and closer stops are the norm.

 

[NP][/NP]