USDCHF Classic Technical Report 07.12.2012
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.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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