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Usdchf just hit its 3rd resistance level . Expecting a retracement to at least .931 not expecting any further downturn because the Switzerland stock market index had a great day today. So expecting some some resistance in the switzerland economy in the future.
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"not expecting any further downturn because the Switzerland stock market index had a great day today." Sorry but I fail to see how a stronger Swiss Stock market could lead to a weaker currency. You want the CHF to weaken not strengthen vs US$.
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@barrylench, the reason why the Switzerland stock market index was brought up was because it was used as a sentiment indicator. If the chf stock market had a good day against the us stock market then that means that the more people are investing in the swiss economy making the swiss currency stronger. However since usdchf hit a resistance level and the current smi appeared to be overbought yesterday. A slight reversal can be expected. I do understand what your saying though that could had been worded much better than what was stated. So to that, that is understood. But it was used as a sentiment indicator in this case and was a way to guage the sort of immediate view on the swiss economy in a sense.
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