sits at the 0.9650 level, which could offer a significant amount of technical resistance. On the other hand, the market is likely to continue to look at that as a major barrier, but one that could be overcome. If we turn around and fall from there, then we would pull back to the 0.94 level. Breaking above it then allows the market to go looking to the 0.98 level. Above there, then you have the parity level which makes a lot of sense as well.
Quite frankly, one of the biggest problems that Switzerland faces is that it is surrounded by the European Union. With that, I think it will continue to go up and down with the fate of the European Union in general. I do believe that we continue to recover, and at the very least we need to work off some of the oversold condition, we could see a bit of a ripping rally. This will be especially true if there is a lot of fear out there, and a rush back into the US dollar as a result. Keep in mind that interest rates in America are infinitely higher than in Switzerland and will remain so. Expect
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