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FOREX Technical Analysis: USD/CHF Consolidates Following Trendline Break

By , Sr. Technical Strategist
16 January 2013 22:54 GMT

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, FOREX Technical Analysis: USD/CHF Consolidates Following Trendline Break

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF is consolidating following yesterday’s break through 9303 and trendline resistance. There is no change to the outlook. “The USDCHF has broken through 9303 and focus is now on 9382 although I’d not be surprised to the broken trendline tested as support near 9225.”

FOREXTrading Strategy: Look to buy weakness below near 9225…EURCHF support begins at 12316.

LEVELS: 9140 9178 9262 9382 9437 9512

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16 January 2013 22:54 GMT