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Yesterday I mentioned the Swiss Franc, and the 1.1800 key level. Not a pair I prefer to trade, however, the strong relationship between Swiss Franc and Euro, both against US Dollar. We usually said the pairs move forming mirror images,and although the correlation is weaker in shorter time frames, is still there. Anyway, the general idea is to follow the breakout ofkey points in either one or both currencies, and take the opportunity in the other, that will probably be dragged after the first one that breaks trough, as we could see that they don’t move all the time at the same speed.
By the way, Usd/Chf remains pretty close to the 1.1800 level, and is moving upwards, inside a daily ascendant channel, as you can see in the chart attached. Again above the 1.1802 the pair will try to retest the maximum a@ 1.1835 and extend even to the the congestion zone close to 1.1870. Above this last, the roof of the daily channel is near 1.1920, where we could expect some rebound at least on the first attempt. Regarding supports, only under 1.1741 the pair can continue to the 1.1700 zone, and under this, to the zone between 1.1655/70.
[...] days ago, I posted some daily charts analysis for the pair (you can see it in the next link http://blogs.fxstreet.com/advisor/2008/11/11/swiss-franc-daily-charts/) and is time to update the pair: see how inside that daily channel, the pair is moving inside [...]