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USD/CHF Classic Technical Report 07.04.2012

USD/CHF Classic Technical Report 07.04.2012

Ilya Spivak, Head Strategist, APAC

Prices are consolidating above the 23.6% Fibonacci expansion at 0.9523, with the downside capped by the 38.2% level at 0.9561. A break above this boundary exposes the 50% Fib at 0.9591. Alternatively, a push through support targets rising trend line resistance set from the June 17 swing low, now at 0.9473.

USDCHF_Classic_Technical_Report_07.04.2012_body_Picture_5.png, USD/CHF Classic Technical Report 07.04.2012

4hr 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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