The US dollar is gaining strength again.
With a break above 1,06 last friday, the pair has shown renewed strengh and confirmed a possible bullish resumption.
Though it is not yet in question, we are starting to question the bullish potential on this pair which continues to be under pressure after a break below the 38% fib level.
The pair is now consolidating its rally started last week. Any setback should be well supported by the 0,80 former resistance.
We have seen the pair confirming a possible material base on top of its historical low (76,00) but the structure remains relatively weak.
Considering the last day closing, we expect a test of the ascending trendline at 1,6250. A break below the daily channel would negate the bullish outlook.
Yerterday’s price action didn’t really confirm a bullish bias on the pair which was a bit under pressure, testing the 1,44 support.
Greetings. Let’s pull up the USD/CHF chart. We saw a dramatic move downward but we may have seen a potential low to act as a turning point.
An increase in the risk appetites supported high-yielding currencies.
INTRA-DAY USD/JPY: Last Update At 30 Aug 2011 07:00 GMT Range Forecast76.70 / 77.00 Resistance/SupportR: 77.07 / 77.27 / 77.47S: 76.50 / 76.25 / 75.95