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USDCHF stays within a downward price channel

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF stays within a downward price channel on 4-hour chart, and remains in downtrend from 0.9177. Initial resistance is at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.8800 area. Key resistance is at 0.8965, a break above this level will indicate that the downtrend from 0.9177 had completed at 0.8890 already, then the pair will find resistance around 0.9100.


    Provided by ForexCycle.com

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