Wednesday, January 16, 2013

EUR/CHF ~ 16 January 2013

Apparently the SPX went into a coma so let's have a look at another patient that recently got out of a coma:

All of a sudden the EUR/CHF spiked up to 1.24ish, a level we haven't seen for more than a year. As you can see on the chart, the 1.24-25 area should be some heavy resistance. If breached though, we could see a rally to 1.275ish or even 1.32ish.