as the markets are showing resilience on China tightening and PIGS (Portugal, Ireland, Greece, Spain) basket troubles, and indicies are pocketing some gains, it is "safe" to conclude that risk is on again. Currency that loves to loose when risk appetite is one the market should not disappoint this time either. Mountain economy currency keeps on appreciating to dissatisfaction of it's parent (SNB) but after their recent FX intervention, we should not expect one for at least couple of months. . Stops bellow the trading range and targets toward the top of the trading range. This is one of the chart that amazes with it's simplicity. I added the Slow Stochastic as a reassurance in a move higher.
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