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Swiss Franc Technical Outlook

Friday, 16 May 2008 14:25:03 GMT

Written by Jamie Saettele, Technical Currency Analyst

We view the rally from .9674 as an A-B-C advance (corrective) but this does not mean that the larger downtrend is back underway (similar to the EURUSD).

The advance may well be the first leg in a larger, more complex upward correction but a sizeable decline is expected regardless (probably into parity).   

STRATEGY: Bearish, against 1.0624, target below 1.0389

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