USDCHF Monthly Technical Forecast
A fresh higher low is now sought out above the 0.9635 March 2008 historic lows at 1.0370 (December 2008 lows), to be confirmed on a break back above the 2008 highs from November 2008 at 1.2300. The 50-Month SMA by 1.1900 had managed to cap rallies in February, but we look for this level to be overcome in March to open a direct retest of 1.2300. Above 1.2300 exposes 1.2775 (October 2006 highs) and then the 2005 highs by 1.3290 further up. The 10-Month SMA has crossed back up through the 20-Month to provided added confirmation for bullish bias. Ultimately, only back under 1.1000 gives reason for concern.
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