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Swiss Franc Technical Outlook

Tuesday, 05 August 2008 14:01:52 GMT

Written by Jamie Saettele, Senior Currency Strategist

From 1.0010, 5 waves appear to be nearing completion.  The bigger picture count calls for a rally to the 1.10 area (Fibonacci extension level at 1.0986 and former 4th wave congestion is near 1.10).  Ideally, a corrective setback begins soon and brings price back near 1.03.  At that point, a bullish bias would be warranted against 1.0010.  

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