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USDCHF breaks below 0.9147 support

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 18, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF breaks below 0.9147 support, suggesting that the downtrend from 0.9751 (July 9, high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 0.9050 area. Resistance is now at downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend from 0.9455 will continue.

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