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Swiss Franc: The Downside Prevails
By Trading Central on June 10, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 116 |
| Resistance2: | 113 |
| Resistance1: | 111.5 |
| Last: | 107.79 |
| Pivot: | 111.5 |
| Support1: | 106 |
| Support2: | 104 |
| Support3: | 101.3 |
Our preference: Short positions below 111.5 with targets @ 106 & 104 in extension.
Alternative scenario: Above 111.5 look for further upside with 113 & 116 as targets.
Comment: the pair is challenging its declining trend line, the RSI is turning down.
116
113
111.5
107.79 (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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