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USDCHF breaks above trend line resistance
Wednesday, September 19, 2012 19:43
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USDCHF breaks above the downward trend line on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 0.9607 is underway. Range trading 0.9239 and 0.9350 would likely be seen in a couple of days. Resistance is at 0.9350, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is possible after consolidation. Support is at 0.9239, a breakdown below this level could signal resumption of the downtrend.
