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USDCHF remains in downtrend from 0.9751

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 13, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF remains in downtrend from 0.9751, the rise from 0.9174 could be treated as consolidation of the downtrend. Resistance is at the upper line of the downward price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resumed, and another fall towards 0.9000 is still possible. On the upside, a clear break above the channel resistance will indicate that the downtrend from 0.9751 had completed at 0.9174 already, then the following upward movement could bring price to 0.9500 zone.

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