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The Trend of the Day - AUD/CHF

The Trend of the Day - AUD/CHF

2009-12-14 12:08:00
Gregory McLeod, Currency Analyst
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take profits on this 12-day rally to buy holiday gifts. With thin holiday volumes price action could become volatile and AUD/CHF could make it down to trend line support in the .9200 area very quickly. On the other hand,

lighter than normal holiday trading volumes could see traders push prices to new highs given that resistance levels may not be that solid. Look to buy the break above the .9460 November highs with a stop below the .9266 lows.

A much better trade would be to wait for a retest of the daily trend line in the .9180 vicinity with a stop about 50 pips below the trend line.

AUDCHF 12.14.2009

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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