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Swiss Franc Heads Toward 1.2500

By Sam Shenker
25 January 2006 12:38 GMT
A sustained momentum on the part of the Swissie bulls will most likely see the pair stall around 1.2240, a level established by the September 5 daily high, and with subsequent reversal targeting the 1.2500 figure. Indicators are favoring the Swiss Franc longs with both negative momentum indicator and MACD below the zero line, with ADX above 25 at 32.34, signaling an existence of a trend, not a direction of one, while oversold Stochastic adds to a trending outlook.

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25 January 2006 12:38 GMT