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Swiss Franc Technical Outlook

Wednesday, 30 April 2008 13:41:53 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 (potential resistance). 

Keep in mind that a longer term count suggests a rally back to the 1.10/1.12 level.  There is also a count that gives scope to a top closer to 1.05 and new low to follow.  At this point, reward/risk on either side of the market does not warrant a position. 

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