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Sunday, March 3, 2013

$USDCHF

USDCHF was lower overnight as it extends this month's decline. 

Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, November's low crossing at .10555 is the next downside target. Closes above the 20-day moving average crossing at .10842 would confirm that a short-term low has been posted. 

First resistance is the 10-day moving average crossing at .10746. 
Second resistance is the 20-day moving average crossing at .10842. 

First support is the overnight low crossing at .10620. 
Second support is November's low crossing at .10555.