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USDCHF’s fall from 0.9302 extends to as low as 0.9110

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 13, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF’s fall from 0.9302 extends to as low as 0.9110. Deeper decline to test 0.9083 support would likely be seen, a breakdown below this level could signal resumption of the downtrend from 0.9511, then next target would be at 0.9000 area. Resistance is at 0.9200, only break above this level will suggest that a cycle bottom is being formed on 4-hour chart, then further rise to 0.9350 area could be expected.

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