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USDCHF trades in a range between 1.0394 and 1.0675

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF trades in a range between 1.0394 and 1.0675. Another rise towards 1.0675 resistance is expected later today. As long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.1730 (Jun 1 high), and another fall to 1.0300 is still possible, and a breakdown below 1.0394 could signal resumption of downtrend, only rise above 1.0675 could indicate that the fall from 1.1730 has completed at 1.0394 already.

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