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USDCHF remains in uptrend from 0.8986

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 21, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF remains in uptrend from 0.8986, the fall from 0.9156 could be treated as consolidation of the uptrend. Support is located at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 0.9400 is still possible. On the downside,a clear break below the channel support will indicate that lengthier consolidation of the longer term uptrend from 0.8799 is underway, then pullback to 0.9000 area could be seen.


    Provided by ForexCycle.com

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