Swiss Franc Technical Outlook

Published May 23rd, 2008 - 06:31 GMT
Al Bawaba
Al Bawaba

There is no change to the USDCHF pattern as the pair is tracking our preferred count.



“We view the rally from .9674 as an A-B-C advance (corrective) but this does not mean that the larger downtrend is back underway (similar to the EURUSD).  The advance may well be the first leg in a larger, more complex upward correction but a sizeable decline is expected regardless (probably into parity).”  Short term resistance is at 1.0322.

STRATEGY: Bearish, against 1.0572, target TBD