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Forex: USD/CHF consolidates at 0.9634

By FXstreet.com,  August 22, 2012, 06:51:00 AM EDT

FXstreet.com (Barcelona) - The USD/CHF has remained firm in its movements, devoid of any large-scale fluctuations in either direction. At the present, the pair has consolidated in the 0.9634 region, netting a modest gain of +0.04% Wednesday - ahead of the FOMC minutes scheduled for later today.

According to the Analysts at Amplify Trader, "We maintain a neutral-short outlook for the USD/CHF with entry at 0.9656. Instability at this level should lead to a fall towards 0.9619 (Aug 21 low) and eventually 0.9591."

The Analyst team at Amplify Trading has calculated resistances at 0.9700, then 0.9769, and finally 0.9809. On the downside, the USD/CHF will find its decline slowed by supports at 0.9591 and 0.9551.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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