The USDCHF continued its upside consolidation on Friday. As long as price moves above 0.9550 we may still see some upside pullback but my bearish outlook remains valid for this pair. Immediate resistance at 0.9664. A clear break above that area and a violation to the bearish channel (blue) could be a threat to the bearish outlook testing 0.9733 – 0.9800 resistance area. On the downside, 0.9461 remains the nearest bearish target but also could be considered as a strong support during the remaining days of 2010.
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