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USDCHF Classic Technical Analysis Report 10.23.2012

USDCHF Classic Technical Analysis Report 10.23.2012

2012-10-23 10:24:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are retesting support-turned-resistance at a rising trend line set from late February (0.9299), a barrier reinforced by a downward-sloping barrier set from the July 24 swing high (now at 0.9312). A break above the latter level exposes 0.9420. Initial support is at 0.9214, the October 18 low, with a reversal beneath that targeting 0.9042.

USDCHF_Classic_Technical_Analysis_Report_10.23.2012_body_Picture_5.png, USDCHF Classic Technical Analysis Report 10.23.2012

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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