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EUR/CHF Classical 02.18

EUR/CHF Classical 02.18

2011-02-18 06:52:00
Joel Kruger, Technical Strategist
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EURCHF_Classical_body_eurchf2.png, EUR/CHF Classical 02.18

EUR/CHF:The market continues to recover out from the record lows established in late 2010 by 1.2400, with the latest break back above 1.3070 confirming a fresh higher low by 1.2780 and opening the door for the next major upside extension towards the 1.3500-1.4000 area further up. From here, we would expect to see any intraday setbacks well supported above 1.2850 on a close basis.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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