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USDCHF Is Looking Bearish Towards 0.9300 Against 0.9566


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Mar 19 2013

USDCHF reversed sharply lower in the past week from 0.9566 peak and also closed on a daily and weekly basis beneath 0.9430 swing. In fact, move from 0.9566 was very sharp so we believe it's only first leg of a minimum three wave decline, labeled as A)-B)-C). Ideally pair is now in wave B) with resistance seen around 0.9500. Breakdown into wave C) towards 0.9340 is expected as long as 0.9566 is in place.

Sentiment table
Current Trend/Sentiment Directional Bias Strategy
03/18 We favour shorts as long as 0.9566 critical level holds.

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