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USDCHF is facing channel resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 16, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF is facing the resistance of the upper line the price channel again. As long as the channel resistance holds, the rise from 0.9130 could be treated as consolidation of the downtrend from 0.9838, one more fall towards 0.9000 is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier sideways consolidation of the downtrend is underway, then range trading between 0.9130 and 0.9350 could be seen to follow.

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