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USDCHF stays in a trading range

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 14, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF stays in a trading range between 0.9201 and 0.9368 for several days. Deeper decline to test 0.9201 key support could be expected later today, a break below this level will indicate that the downtrend from 0.9774 has resumed, then next target would be at 0.9000 zone. Resistance is at 0.9315 followed at 0.9368, only break above these levels could indicate that lengthier consolidation of downtrend is underway, then further rally could be seen to 0.9400-0.9450 area.

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