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USD/CHF Retraces Within Strong Downtrend

USD/CHF (a 4-hour chart of which is shown) as of Monday (10/18/2010) has been making yet another bullish retracement beginning late last week, within the context of the strong bearish trend that has characterized this currency pair since early June. Price action hit a high around 0.9650 in early Monday trading before retreating. For more USD/CHF forex technical analysis, please click here.

James Chen, CTA, CMT