by Wed, 09 Mar 2011 11:34:00 +0100
Forex: USD/CHF showing growth potential towards 0.9750 - Jyske Bank
FXstreet.com (Barcelona) - Dollar decline from 0.9775 high on mid February extended to 0.9202, all time low last week and the pair is trimming losses this week reaching levels above 0.9300, and, according to the Jyske Bank Team, showing potential for further recovery.
Struggling at 0.9350 resistance at the moment, the Jyske Bank Team, expects the pair to extend higher, targeting 0.9750 area: "Having been at an all-time low at 92.02, the cross rate is about to breach the key resistance at 93.50. From a technical point of view this cross rate offers much potential. It is likely that we will again see a level at about 97.50."
| Technical Analysis (2011-03-09 10:30 GMT) | |
|---|---|
USD/CHF 0.9335/0.9338 - O: 0.9302 H: 0.9314 L: 0.9297 C: 0.9306 | |
| Trend | R3: 0.9383 |
 | R2: 0.9359 |
| R1: 0.9336 | |
| S1: 0.9283 | |
| S2: 0.9307 | |
| S3: 0.9330 | |
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