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USDCHF remains in uptrend from 1.0501

Discussion in 'Technical Analysis' started by ForexCycle.com, May 26, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF remains in uptrend from 1.0501 (Feb 14 low), and the fall from 1.1695 is treated as consolidation of uptrend. Range trading between 1.1424 and 1.1695 would more likely be seen in a couple of days. As long as 1.1424 support holds, we would expect uptrend to resume and another rise to 1.1800 is possible. However, a breakdown below 1.1424 level will indicate that the rise from 1.0501 has completed at 1.1695 already, then deeper decline could be seen to 1.1300 area.

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