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U.S. Dollar Bull and Bear Markets

U.S. Dollar Bull and Bear Markets

The idea of endlessly repeated…

EUR/CHF - Bearish Breakout at 1.0666

USD/CHF remains thus far below the resistance at 0.9554. An hourly support is given by the rising trendline (around 0.9416). A break of the support at 0.9374 (20/02/2015 low) is needed to invalidate the current bullish momentum.

Following the removal of the EUR/CHF floor, a major top has been formed at 1.0240. The break of the resistance implied by the 61.8% retracement of the sell-off suggests a strong buying interest. Other key resistances stand at 0.9554 (16/12/2014 low) and 0.9831 (25/12/2014 low). A key support can be found at 0.9170 (30/01/2015 low).

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