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USD/CHF Technical Analysis 05.02.2013

USD/CHF Technical Analysis 05.02.2013

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis- Prices pulled back as expected after putting in a Shooting Star candlestick. Sellers are now testing support at 0.9275, the 61.8% Fibonacci expansion, with a break below that exposing the 76.4% level at 0.9223. Near-term resistance is at 0.9318, the 50% Fib.

Forex_USDCHF_Technical_Analysis_05.02.2013_body_Picture_5.png, USD/CHF Technical Analysis 05.02.2013

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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