Comments dollar Swiss franc trend September 6, 2010
USD/CHF to range-trade. Undermined by weak USD sentiment; but downside limited by short-CHF carry trades on improved risk tolerance. Daily chart mixed as MACD bearish, but stochastics bullish at oversold. Support 1.0113 (Friday''''s low); breach would target 1.0092 (Thursday''''s low), then 1.0060 (Wednesday''''s 9-month low), parity and 0.9958 (Dec. 3, 2009 low). Resistance at 1.0238 (Friday''''s high); breach would expose upside to 1.0263 (Tuesday''''s high), then 1.0315 (Aug. 30 high), 1.0328 (Aug. 25 high), 1.0452 (Aug. 24 high) and 1.0465 (Aug. 19 high).
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