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Swiss Franc: The Downside Prevails

By Trading Central on May 8, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:122.5
Resistance2:119
Resistance1:116
Last:112.01
Pivot:116
Support1:111.5
Support2:108
Support3:104
Pivot: 116

Our preference: Short positions below 116 with targets @ 111.5 & 108 in extension.

Alternative scenario: Above 116 look for further upside with 119 & 122.5 as targets.

Comment: the pair has broken below its flag lower boundary, the RSI advocates for further decline.

122.5
119
116
112.01 (last)
111.5
108
104

*USD/CHF Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the SWISS FRANC. For details go to www.ise.com

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