10.11.201112:23 Forex Analysis & Reviews: USD/CHF: Time Zones to Swing.

Long-term review

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Previous congestion zone between 1.0850 and 1.0960 provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190.

The USD/CAD pair didn't show enough bullish momentum above 1.1200. As expected, this indicated lack of enough bullish momentum in the market.

Failure to push above 1.1190 exposed the previous support zone of 1.1020 - 1.1190. Thus, the pair returned to test the lower limit at 1.1020.

In case the current support doesn't hold price above, the next support level to meet the pair is located at 1.0960 which comes to meet the uptrend line initiated on September 19. It's expected to provide considerable bullish pressure.

Daily fixation above 1.1020-1.0090 enables the bulls to push higher towards 1.1090 then 1.1150.

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