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USDCHF Classic Technical Report 07.26.2012

USDCHF Classic Technical Report 07.26.2012

Ilya Spivak, Head Strategist, APAC

Prices pulled back from resistance at 0.9976, the 76.4%Fibonacci expansion reinforced by the psychologically significant parity figure, to retest the 61.8% level at 0.9871. A break below this barrier exposes the 0.9752-84 area marked by a formerly broken horizontal resistance barrier and the 50% expansion. Alternatively, a push beyond resistance aims for the 100% expansion at 1.0148.

USDCHF_Classic_Technical_Report_07.26.2012_body_Picture_5.png, USDCHF Classic Technical Report 07.26.2012

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

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