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Forex: USD/CHF Technical Analysis – 2-Month Down Trend Broken

Forex: USD/CHF Technical Analysis – 2-Month Down Trend Broken

2014-01-03 04:04:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke resistance at 0.8971 (38.2% Fib exp.), exposing 0.9024 (50% Fib exp.)
  • A further push higher beyond that targets 0.9077 (61.8% Fibonacci expansion)
  • Turning back below 0.8971 aims for 0.8934 (falling trend line)

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – 2-Month Down Trend Broken

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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