Special Focus USDCHF by fxtechstrategyteam


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									            Saturday, 21th of Jan, 2012                                     FXTechstrategy Team
               SPECIAL FOCUS
                                           USDCHF: Bearish, Set To Correct Further

                                           USDCHF: With a second week of declines sending
                                           the pair further lower the past week, the risk is for
                                           USDCHF to weaken more in the new week.
                                           Although the pair continues to retain its medium
                                           term uptrend, its present correction has put that
                                           on hold and turned the risk to the downside
                                           towards the 0.9240 level, its Dec 21’2011 low. A
                                           clearance of that level will turn focus to the
                                           0.9175 level, its Dec 08’2011 low. A halt may
                                           occur here and turn the pair back up but if that
                                           level breaks, lower level prices could shape up
                                           towards the 0.9063 level, its Nov 30’2011 low. Its
                                           weekly RSI is bearish and pointing higher
                                           supporting this view. On the upside, the pair will
                                           have to break and close above the 0.9591 level to
                                           resume its medium term and shift focus to the
                                           0.9772 level, its Feb 11’2011 high. Further out, a
                                           violation of there will allow the pair to strengthen
                                           further towards the 0.9913 level, its Dec 07’2010
                                           high followed by its psycho level at 1.0000 level.
                                           On the downside, the risk remains for the pair to
                                           decline further on further correction.

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