USDCHF—new low

USDCHF fell to a low of .8671 just above S2 of the weekly pivot calculation. On the three-hour chart, this low formed within a hammer candle. Since the hammer is at weak support and there is positive divergence on the three-hour chart, let us see if the pair can overcome current resistance at .8765. Just above here is the psychological resistance of .8800.
I am almost positive that Bernanke can say something today to assure the dollar will continue to decline.

© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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