USDCHF 12-15-06

12-15-06

USDCHF

There was no trade in the USDCHF yesterday. The breakout trade above 1.2074 would have been a big winner if I had traded it. The USDCHF has built a couple of areas of support above 1.2114 as it absorbs the supply at 1.2150, and, if successful, it could rally to the next area of supply near 1.2226 from here. A breakout trade above 1.2155 with a first target of 1.2200 and a second target of 1.2226 to go flat is a possibility for this morning, as is a short trade at 1.2226 for later on today.