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Swiss Franc: The Downside Prevails
By Trading Central on November 16, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 108 |
| Resistance2: | 106 |
| Resistance1: | 103.5 |
| Last: | 100.86 |
| Pivot: | 103.5 |
| Support1: | 100.3 |
| Support2: | 99 |
| Support3: | 97.3 |
Our preference: Short positions below 103.5 with targets @ 100.3 & 99 in extension.
Alternative scenario: Above 103.5 look for further upside with 106 & 108 as targets.
Comment: the pair has struck against its resistance and should face a further weakness as the RSI is capped by a MT declining trend line.
108
106
103.5
100.86 (last)
100.3
99
97.3
*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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