DMT 29 July 2013

Daily Market Technicals

EUR/CHF – negative below resistance line at 1.2421

EUR/CHF having failed on the topside attention has reverted to the 55 day ma at 1.2312.
Below 1.2313 would cast attention back to the 200 day ma at 1.2247.
The market will remain offered below the 1.2421 re-drawn resistance line. Only above the current 1.2466 July high would target 1.2545/57 and above here will refocus attention on the 38.2% Fibonacci retracement of the 2007-11 decline at 1.2655.
Above 1.2655 sits the 1.2765 September 2010 low and 1.2815, the 200 week ma.
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