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USDCHF is forming a sideways consolidation

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 24, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF is forming a sideways consolidation in a range between 0.8082 and 0.8276. The sideways move could be expected to continue in a couple of days. As long as 0.8082 support holds, one more rise to 0.8400-0.8450 area is possible after the sideways move. However, a breakdown below 0.8082 could indicate that the long term downtrend has resumed, then next target would be at 0.7800 zone.


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