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Swiss Franc: The Downside Prevails

By Trading Central on June 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:113
Resistance2:111.5
Resistance1:109
Last:106.94
Pivot:109
Support1:106
Support2:104
Support3:101.3
Pivot: 109

Our preference: Short positions below 109 with targets @ 106 & 104 in extension.

Alternative scenario: Above 109 look for further upside with 111.5 & 113 as targets.

Comment: the pair remains badly directed and is capped by a declining trend line.

113
111.5
109
106.94 (last)
106
104
101.3

*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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