USD/CHF Classic Technical Report 07.09.2012
Prices are showing a Shooting Star candlestick below resistance at 0.9785, the 50% Fibonacci expansion, hinting a pullback may be ahead. Initial support lines up at 0.9698, the 38.2% level. Alternatively, renewed upside momentum that takes prices through resistance exposes the next upside boundary at 0.9871, the 61.8 Fib.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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