FX.co ★ USD/CHF Bullish Above 0.8390 June 29, 2011 (Daily Strategy)

USD/CHF

The United States dollar – Swiss Franc pair technically could present stagnation and change the trend in the short term.

Recommend to buy only if the price is above the bearish trend line or the weekly pivot point around the 0.8390 level. It is possible to enter a buy deal already at the present price levels, although another wave downwards the important support level at 0.8280 is also likely. Such a move will serve us to increase the buy position with a brief stop loss order set around the 0.8200 level. A partial realization can take place towards the weekly resistance level, 0.8650.