USDCHF 1-12-07

1-12-07

USDCHF

The short trade at 1.2483 was a 10 pip loser if you entered it on the rally from 1.2420. There were sellers lower in the area early in the day.Yesterday morning, the USDCHF traded up to a high of 1.2473 before selling off to the 1.2410 area of demand. It has since pushed up to the 1.2500 area and has been basing between 1.2478 and 1.2500. The US Dollar Index is in a weekly area of supply. It is just a matter of time for the selling to resume. The USDCHF has a weekly area of supply between 1.2483 and 1.2537. It may push into the 1.2500 area before the selling begins.