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USDCHF failed to break below 0.8907 support

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 22, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF failed to break below 0.8907 support, indicating that lengthier sideways movement in a range between 0.8907 and 0.9036 is underway. Another rise to test 0.9036 resistance is possible, a break above this level will signal resumption of the uptrend from 0.8703 (May 8 low), then next target would be at 0.9200 area. On the downside, a breakdown below 0.8907 support will signal completion of the uptrend from 0.8703, then deeper decline to 0.8800 area could be seen.


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