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USD/CHF Double-Top Within Bullish Channel

USD/CHF (a 4-hour chart of which is shown) as of Monday (2/14/2011) has hit a double-top high just shy of 0.9780, establishing a one-month high in the process late late last week, before retreating from this resistance on Monday. This occurs within the context of a steep parallel uptrend channel extending back to the early February lows. For more USD/CHF forex technical analysis, please click here.

James Chen, CTA, CMT