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USDCHF Change In Trend?
Tuesday, 30 September 2008 19:15:20 GMT
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The surge in USD/CHF today has led the 100 SMA to move above the 200 SMA, possibly signaling a change in trend for the pair. Given the extent of the move, we're likely to see some sort of pullback in the near-term, but ultimately, USD/CHF should continue higher to target trendline resistance and the September highs near 1.14. It will be important to see what the pair does at that point, as a break above the noted trendline will help to confirm suspicions of a trend change.
USD/CHF (Daily Chart)
Source: Intellicharts
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