USD/CHF continues to move higher after validating a double-bottom formation, whose upside potential is at 0.9169. An initial support stands at 0.9068 (intraday low, see also the shortterm rising trendline). Another support lies at 0.9020. Resistances can be found at 0.9131 and 0.9192.
From a longer term perspective the structure present since 0.9972 (24/07/2012) is seen as a large corrective phase which is potentially reaching completion. The support area defined by 0.8931 (24/02/2012 low) and 0.8833 has thus far held, favouring a potential base formation. A key resistance stands at 0.9250.
Daily Technical Report
