[B]Commentary: [/B]The USDCHF has reversed course in impressive fashion and the break above 1.2329 suggests that the USDCHF is headed towards the 100% of 1.1993-1.2329/1.2145 at 1.2481. The USDCHF is right at a trendline drawn off of the October 2006 and January 2007 highs.
A daily close above here would bolster the bullish outlook. This line is also the neckline from a 13 month head and shoulders pattern, which has much more bullish implications. [B][/B]
[B]Strategy: [/B]Bullish now, against 1.2145, targeting 1.2500