USD/CHF Weekly Technical Report 31/12/2012 – 4/1/2013

We might be in front of an AB=CD Bullish Pattern as the suggested harmonic pattern completed at 0.9080 levels, any trading above the referred to levels is positive now and might cause an upside correction during this week. The first suggested target for this pattern resides at 0.9200 levels and breaching it might extend the bullish move reaching 0.9270 levels.

The trading range for this week is among key support at 0.8915 and key resistance at 0.9445.

The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.

Support 0.9105 0.9080 0.9050 0.9000 0.8985

Resistance 0.9180 0.9200 0.9270 0.9345 0.9395

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9105 targeting 0.9155, 0.9200 then 0.9270 and stop-loss with four-hour closing below 0.9050 might be appropriate this week