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USDCHF continues its bearish movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 27, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF continues its bearish movement and the fall from 1.1730 extends to as low as 1.0896 level. Deeper decline is still possible in a couple of days, and next target would be at 1.0800 area. Resistance is at the upper border of the falling price channel on 4-hour chart, now at 1.1010, as long as the channel resistance holds, downtrend could be expected to continue. Only a clear break above the channel resistance could take price back to 1.1100 zone.

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