Trading Forecast USD/CHF
June 10, 2011 7:20 AM GMT
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| USD/CHF closed higher due to profit taking on Thursday as it consolidated some of this spring's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this year's decline into uncharted territory, downside targets will be hard to project. Closes above the 20-day moving average crossing would signal that a short-term bottom has been posted. |
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