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Swiss Franc Retreats Above 1.2800

By Sam Shenker
30 January 2006 10:52 GMT
A sustained momentum on the part of the dollar bulls will most likely see USD/CHF head above the psychologically important 1.3000 handle and test the Swiss France offers around 1.3037, a level established by the 23.6 Fib of the 1.2240-1.3285 USD rally Indicators are favoring the Swiss Franc longs with both negative momentum indicator and MACD below the zero line, with ADX above 25 at 28.37, signaling an existence of a trend, not a direction of one, while neutral oscillators give the pair enough room to maneuver.

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30 January 2006 10:52 GMT