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Forex: USD/CHF Technical Analysis – Trend Line Resistance Eyed

Forex: USD/CHF Technical Analysis – Trend Line Resistance Eyed

2013-12-19 13:11:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices rallied as expected after putting in a bullish Morning Star candle pattern
  • Resistance is now at 0.8976 (trend line), with a break above that targeting 0.8991 (38.2% Fib)
  • Turning back below 0.8930 (23.6% Fib ret.) exposes 0.8832 (Dec 17 low)

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

dailyclassics_usd-chf_body_Picture_8.png, Forex: USD/CHF Technical Analysis – Trend Line Resistance Eyed

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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