USDCHF 11-28-06

11/28/06

USDCHF

The USDCHF has traded in a range between 1.2114 and 1.2029 for the last two days. It may continue to trade in this range for another day since the EURUSD and GBPUSD both came into areas of supply that have stopped the up moves for the time being. A break above 1.2114 would be a sign that the down move is over for now, and it would be a legitimate breakout long trade since the price will be above the moving average on the 60 minute chart.