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USDCHF Classic Technical Report 07.12.2012

USDCHF Classic Technical Report 07.12.2012

2012-07-12 06:29:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are testing resistance at 0.9823, the 100% Fibonacci expansion. The barrier is reinforced by a rising trend line set from mid-June. A break higher exposes the 114.6% expansion at 0.9883. Near-term support lines up at 0.9771, the June 1 high, followed by the 76.4% expansion at 0.9728.

USDCHF_Classic_Technical_Report_07.12.2012_body_Picture_5.png, USDCHF Classic Technical Report 07.12.2012

8hr 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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