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09.04.2012 09:29 AM
USD/CHF Weekly Technical Levels for April 9 - 13, 2012

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Weekly Technical Levels:

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Tip (s):

R3 and S3 are clear indicators of the maximum range for the period of extreme volatility. Nevertheless, it is still possible to break them through.

Pivot lines work well at sideways markets, as prices are most likely to be located between the R1 and S1 lines.

Within a strong trend the price will be located below the pivot point line and will continue its movement.

In case of the breaking news release that may influence the market, the price may go straight through R1 or S1 and even reach R2 & R3 or S2 & S3.

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Observation (s):

  • If the trend goes upwards, then the strength of the currency will be defined as: USD is an uptrend and CHF is a downtrend.
  • Most of the traders use the Fibonacci retracement to determine the accurate psychological support and resistance levels.
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