able's rally above 1.6131 to a 5-week high of 1.61 73 confirms the upmove from 1.5828 (November) has once again resumed. A gain to 1.6190/00 is envisaged, however, overbought conditions should prevent a strong rise above there. Resistance at 1.6218 should hold on first testing.
Buy on dips with stops as indicated, break signals temp. top is made. Risk retracement to 1.6043.
Resistance/Support
R: 1.6176/1.6218/1.6273
S: 1.6095/1.6064/1.6043
Last Update At
13 December 2012 07:36 GMT
Rate
1.6142
Strategy
Buy at 1.6110
Objective
1.6190
Stop-Loss
1.6070
DAILY USD/CHF OUTLOOK
Yesterday's sell-off to 0.9244 confirms correction from last Monday's 1-month low of 0.9242 has indeed ended at 0.9384. Downside bias remains for a resumption of MT decline fm 0.9972 (July) to 0.9215 (October), however, oversold conditions would keep the dollar avobe 0.9185/95.
Sell on recovery with stop as indicated. Only above 0.9337 would "prolong" choppy trading, 0.9369.
Resistance/Support
R: 0.9294/0.9314/0.9337
S: 0.9242/0.9215/0.9135
Last Update At
13 December 2012 07:35 GMT
Rate
0.9263
Strategy
Sell at 0.9290
Objective
0.9220
Stop-Loss
0.9330