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USD/CHF Classical 02.09

USD/CHF Classical 02.09

2011-02-09 06:54:00
Joel Kruger, Technical Strategist
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USDCHF_Classical_body_swiss1.png, USD/CHF Classical 02.09

USD/CHF: Although the longer-term market remains under some intense pressure with the latest declines stalling just shy of the late 2010 record lows at 0.9300, inability to establish fresh record lows followed by a break back above 0.9500 leaves us constructive with our outlook from here. Friday’s daily close above 0.9540 confirms and should help to accelerate gains towards 0.9785. Any intraday setbacks should now be well supported ahead of 0.9450.

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

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