USD/CHF Trading Forecast

January 11, 2011 11:58 AM GMT

HY Markets

 

USD/CHF closed higher on Monday as it extended the rally off December's low. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends this rally, the 25% retracement level of last year's decline crossing is the next upside target. Closes below the 10-day moving average crossing would temper the bullish outlook.  

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