Forex news, rate of franc. Commerzbank analytic Karen Jones supposes that the rate of Swiss franc against US dollar is likely to drop.
In her opinion, last week’s bearish trend represented correction, which is over now. Having passed the maximum of 0.9595, the pair is aiming at resistance at points 0.9784 and 0.9950. This will fail to happen if supporting point 0.9317 is passed.
The rate of Swiss franc keeps aiming at making Swiss currency weaker against US dollar by forming sub-wave А(С) or reduced wave С. According to the experts of Мasterforex-V Trading System, sub-wave С within long-term wave С will continue when local maximum 0.9573 is passed. Resistance will be provided by Fibonacci points 0.9613, 0.9637, and 0.9677, as well as the point regarded for bullish trend, according to the overview dated 15/01/2012. Passing the minimum of 0.9447 will start forming bearish wave А/В, which is going to be proved by passing pivot MF 0.9406.
