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Swiss Franc Technical Outlook

Tuesday, 23 September 2008 14:12:06 GMT

Written by Jamie Saettele, Senior Currency Strategist

The USDCHF fell hard in what may be a C wave.  C waves unfold in 5 waves and the decline from 1.1284 is not yet in 5, so expect additional weakness; until 5 waves from 1.1284 develop or until there is evidence of a larger USD turn. 

A Fibonacci extension at 1.0457 may provide support in the coming days.

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