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USDCHF continues its downward movement from 0.9249

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 27, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF continues its downward movement from 0.9249, and the fall extends to as low as 0.9040. Key resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8950 area. On the upside, a clear break above the trend line resistance will suggest that the downward movement from 0.9249 has completed, then the following upward move could bring price back to 0.9450 zone.


    Provided by ForexCycle.com

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