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EUR/CHF Faces Major Resistance
Written by article default Monday, 11 October 2010 08:22
The EURCHF failure to break above the 100-Day SMA validates the technical level as a major barrier. Therefore, I will look to take a position with a break above or signs of a reversal. I am leaning toward a bearish trade but a move above the indicator for the first time since 2009 would make a bullish case. I will consider a short with a move below Friday’s low of 1.3361, and build into it under the 20-Day SMA at 1.3270.Click here to learn more about DailyFX.