USD/CHF: Following Up on Selling into the Ceiling
I my last post I had shared a view of the 240-minute time frame and the exhaustion area I was watching there. Prices came close but never reached the area where I felt that the bullish momentum would shift as it ran into selling pressure so I began looking at more near-term resistance within the uptrend that the shorter-term time frames were in, like the 15, 30, and 60-minute charts.
So by now it's obvious that idea behind an exhaustion and reversal in the USD/CHF has followed through lower, now the question is where is the buying support? Take a look at the 1.0244 to 1.0288 area on the chart below.
Charts courtesy of Autochartist
Related Posts:
- USD/CAD, Crude Oil Support, and Parity 20:19 26 April 2010
- Setting up the AUD/USD intraday uptrend 07:35 08 September 2010
- The Aussie - Gold Connection & Potential Intraday Breakout 22:00 29 April 2010
- NZD/USD Breakout and the Gold Rally 21:16 23 April 2010
- Short Term USD/CAD Showing Transition 22:04 04 May 2010
Forex Blog: Chartology

