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USDCHF is facing trend line resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 2, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 0.9249 had completed at 0.9028 already, then the following upward movement could bring price back to 0.9450 area. On the downside, as long as the trend line resistance holds, the rise from 0.9028 would possibly be consolidation of the downtrend from 0.9249, and one more fall to 0.8950 – 0.9000 area is still possible.

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