CHF/USD

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CHFUSD

Lengthy consolidation periods are usually followed by strong breakouts. From those breakouts, flat ranges are more reliable. Though one should always be prepared for a false breakout. Friday’s price action on the CHF/USD was strong and the cross rate has clearly breached above the horizontal resistance at 1.085 levels. Since mid-September CHF/USD has been consolidating between 1.05 and 1.085. With stop-loss at 1.08 levels we should watch this cross rate with a positive bias.