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USD/CHF Classical Technical Report 05.23

By Joel Kruger, Technical Strategist
23 May 2012 07:03 GMT
Daily_Classical_USDCHF_body_usd.png, USD/CHF Classical Technical Report 05.23

USD/CHF:Overall the structure remains highly constructive and we continue to project additional upside over the coming months back above parity. For now, the latest break and close above 0.9335 is expected to accelerate gains for a retest of the yearly highs by 0.9600, while any intraday pullbacks should be very well supported ahead of 0.9200. Ultimately, only back under 0.9000 would negate outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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23 May 2012 07:03 GMT