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Swiss Franc Technical Outlook

Tuesday, 29 April 2008 12:43:33 GMT

Written by Jamie Saettele, Currency Analyst

The USDCHF has not moved much since yesterday but the pair is nearing where the rally from .9871 would equal the .9647-1.0249 rally; at 1.0473.  Look for resistance near there. 

Keep in mind that one longer term count suggests a rally back to the 1.10/1.12 level.  There is also a count that gives scope to a new low though.  At this point, reward/risk on either side of the market does not warrant a position.

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