FX.co ★ USD/CHF Candlestick Analysis for September 6, 2010

On a daily chart the USD/CHF pair has formed the candlestick called Doji, thus signaling the uprising movement.
This candlestick shows that the currency pair was declining for the last few weeks but it reversed after it did not manage to break through 1.0067. This means that the bears were not able to strengthen here and the bulls took the leadership.
If the USD/CHF pair punctures the correctional level of Fibo 23.6, it will denote that this viewpoint is correct. Then the puncture of the resistance level of 1.0642 and the correctional level of 38.2 will target the pair to the area of 1.1105 - 1.1140.
if the currency pair reverses and breaks through the support level of 1.0067, long positions should be closed as it will aim USD/CHF at 0.9913.