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USDCHF: Maintains Long Term Bearish Momentum (Week Ahead)
USDCHF: Continued bearish momentum saw the pair weakening strongly further the past week and increasing the risk of additional weakness in the new week. USDCHF has been weakening since losing upside momentum at 1.1727 in May’2010 and with that trend still intact, the 0.7700 level and then the 0.7600 level, all representing its psycho levels are now beckoning. The use of its psycho levels as supports is necessary due to the absence of any visible support. On a violation of the 0.7600 level, its psycho level standing at 0.7500 will come in as the next downside target. Its weekly and monthly RSI are bearish and ... (full story)