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USDCHF Classic Technical Report 09.20.2012

By , Currency Strategist
20 September 2012 08:45 GMT

Prices are bouncing from support at a rising trend line set from late February (0.9255) to challenge resistance at 0.9328, the 61.8% Fibonacci retracement. A break higher exposes a falling trend line at 0.9409 and the 50% Fib at 0.9451. Alternatively, a push below the trend line targets the 76.4% retracement at 0.9176.

USDCHF_Classic_Technical_Report_09.20.2012_body_Picture_5.png, USDCHF Classic Technical Report 09.20.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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20 September 2012 08:45 GMT