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USDCHF broke above 0.8198 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 19, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF broke above 0.8198 resistance, and reached as high as 0.8276, suggesting that a cycle bottom had been formed at 0.8082 on 4-hour chart, and the fall from 0.8525 had completed. Further rally could be seen after a minor consolidation, and target would be at 0.8400-0.8450 area. Initial support is at 0.8160 and key support is at 0.8082, only break below these levels could trigger another fall to 0.8000 zone.

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