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CHFNOK - In an analysis email last week we....>

FOREX
FOREX: CHFNOK - In an analysis email last week we highlighted that CHFNOK was
resting on trendline support at Nok8.5005 (see email - Apr 10 1229BST). Indeed,
CHFNOK breached this level & the 200-dma with the downtrend further accelerating
on the break of Nok8.40. Next support is seen at Nok8.3260 which represents the
61.8% retracement level of the May - Dec rise.
- Its also worth noting seasonality trends have seen CHFNOK lower in April
fifteen of the last nineteen years, currently -3.10%.

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