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USDCHF continues its downward movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 31, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF continues its downward movement from 0.9535, and the fall extends to as low as 0.9228. Key resistance is now at 0.9337, as long as this level holds, the downtrend could be expected continue, and next target would be at 0.9170 area. On the upside, a break above 0.9337 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then the pair will find resistance around 0.9400.

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