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Trade Implications – USDCHF: Last week we wrote that the Swissie may have been at a substantial turning point as we saw early signs of crowd capitulation. We were clearly early on that call, and indeed crowds have bought into fresh USDCHF declines. We see little choice but to favor continued weakness absent a material pullback in both price and sentiment. Our Senior Strategist remains bearish below SFr 0.8910.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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