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Forex: USD/CHF Technical Analysis – Rally Stalls Below 0.90

Forex: USD/CHF Technical Analysis – Rally Stalls Below 0.90

2013-12-23 06:55:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices rallied as expected after putting in a bullish Morning Star candle pattern
  • Breaking above the 0.8984-91 area (trend line, 38.2% Fib) targets 0.9041 (50% 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_11.png, Forex: USD/CHF Technical Analysis – Rally Stalls Below 0.90

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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