| USD/CHF - Bounce Off Key Support in Uptrend Posted: 11 Jun 2010 11:17 AM PDT  Price action on USD/CHF, a daily chart of which is shown, has just bounced up off support in the key 1.1400 price region after consolidating for the past several weeks between 1.1400 and 1.1700. This bounce occurs within the context of a strong and steep overall uptrend. With continued bullish momentum off this bounce, price could target the top of the consolidation around 1.1700 once again. For more technical analysis on this currency pair, please click here for Friday’s (6/11/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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