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    USD/CHF: Weekly Technical Levels for July 9 - 13, 2012

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    Technical outlook and chart setups:

    The GBP/CHF pair inched higher towards 1.5075 today before pulling back. Please note that the pair could find resistance around 1.5100 that could trigger a wave 3 pullback before resuming an uptrend. It is hence recommended to stay flat for now and look for dips to enter buying again. Immediate support on the H4 chart is seen around 1.4800 followed by 1.4550/75, 1.4450, and lower while resistance is seen at 1.5100 and higher. Bulls are likely to remain in control untill prices stay broadly above the level of 1,4800.

    Trading recommendations:

    Remain flat for now.

    Good luck!

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