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USD/CHF Technical Analysis 05.08.2013

USD/CHF Technical Analysis 05.08.2013

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis- Prices broke above pivot resistance at 0.9384, exposing a falling trend line at 0.9476. A further push above that aims for the April 24 high at 0.9498. Alternatively, a reversal back below 0.9384 aims for a rising trend line set from early February at 0.9265.

Forex_USDCHF_Technical_Analysis_05.08.2013_body_Picture_5.png, USD/CHF Technical Analysis 05.08.2013

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

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