Home > Commodities and Rates, Getting Global > FX Charts In The Spotlight – USDCHF, AUDUSD

FX Charts In The Spotlight – USDCHF, AUDUSD

October 22, 2010 Leave a comment Go to comments

With the stage set for an explosive Dollar rally (Dismal sentiment + Long-term support). I am turning my attention to a couple of short-term charts which offer low risk set-ups. First, the USDCHF is breaking out of an inverse head-and-shoulders pattern. The near term projected price target is 0.9975-1.00.

              DOLLAR INDEX     Usdchf

The next chart is of the AUDUSD, where pent up volatility is taking the shape of a triangle and quickly closing in on a breakout. For now, if the pattern breaks the underside trend-line, the resulting move will be viewed as the C leg of a correction with a short-term target of 0.9550-0.9575.

AUDUSD 240

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