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USDCHF stays below a downward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 27, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9388 and the fall extends to as low as 0.9222. Further decline is still possible after a minor consolidation and next target would be at 0.9150 area. Initial resistance is at the trend line, and the key resistance is located at 0.9325, only break above this level could signal completion of the downtrend.


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