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Swiss Franc Technical Outlook

Friday, 18 July 2008 14:17:49 GMT

Written by Jamie Saettele, Technical Currency Analyst

The short term picture remains clouded.

When in doubt, focus on facts.  The facts are that the rally from .9647 is in 3 waves and that since early May the USDCHF has made a series of lower highs.  This evidence is bearish.  As long as price is below the most recent high (1.0352), a bearish bias is warranted.  1.0250 may provide resistance.

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