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USDCHF remains in downtrend from 0.9751

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 30, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF remains in downtrend from 0.9751, the rise from 0.9264 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to 0.9200 area is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then the pair will find resistance around 0.9450.


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