Swiss Franc Technical Outlook

Published May 22nd, 2008 - 04:38 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.