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Forex: USD/CHF Technical Analysis – Major Trend Line Retested

Forex: USD/CHF Technical Analysis – Major Trend Line Retested

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after showing a Doji candle, completing a Falling Wedge pattern
  • Resistance is now in the 0.9193-0.9218 area (trend line from Feb’12, 38.2% Fib)
  • Break higher eyes 0.9320 (50% Fib); supports at 0.9128 (Wedge top), 0.9092 (23.6% Fib)

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Major Trend Line Retested

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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