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USDCHF breaks above upper border of price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 11, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF breaks above the upper border of the price channel. Further rally to test 1.0675 key resistance could be seen later today, a break above this level will indicate that the downtrend from 1.1730 (Jun 1 high) has completed at 1.0331 already, then the following upward movement could bring price back to 1.1200 or even higher. Support is at 1.0461, only break below this level could trigger another fall towards 1.0331 previous low.


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