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Talking Points

  • Prices pushed higher as expected after putting in a bullish Piercing Line candlestick pattern
  • Break above resistance at 0.9290 (23.6% Fib retracement) exposes 0.9378 (38.2% level)
  • Reversal back under 0.9290 targets a rising trend line set from February 2012 (now at 0.9164)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Resistance Now at 0.9378

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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