![\"usdchf](\"http:\/\/www.forexabode.com\/images\/stories\/technical_analysis\/long_term\/usd_chf.gif\" "\\"usdchf\\"")
<\/p>\nUSD\/CHF broke the supports mentioned during the last weekends and quoted above and even broke below 0.9200 to touch 0.9114 and to close with strong short-term bearish sentiments at 0.9128.<\/p>\n
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The strong drop and price action of the last week suggest that we can expect some more downward correction towards the next support level of 0.9064\/0.9065. This level represents the support level during the beginning of December 2011 and is also near the Fibonacci 50% retracement of the upward move during October 27th, 2011 to January 8th, 2012.\u00a0 On the downside a firm break of this and then the psychological level of 0.9000 may take USDCHF towards 0.8950 or the Fibonacci 61.2% retracement level of the above mentioned upward move. Our mid-term outlook will start changing to bearish only with a firm break of this and then 0.8800 support to expect any move towards the low of 0.8567.<\/p>\n
On the upside, a break over 0.9340 will again start changing our focus towards upside and this will get confirmed with a firm break over 0.9415 to expect a retest of 0.9596.<\/p>\n
You may also check daily technical usd\/chf analysis<\/a> and the weekend usdchf forecast<\/a> at ForexAbode.com.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" USD\/CHF broke the supports mentioned during the last weekends and quoted above and even broke below 0.9200 to touch 0.9114 and to close with strong short-term bearish sentiments at 0.9128. The strong drop and price action of the last week suggest that we can expect some more downward correction towards the next support level of … <\/p>\n