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Short Term Analysis

USDCHF pulled back from 1.0955 level

Wed, Jun 17 2009, 05:37 GMT
by Franco Shao

ForexCycle.com  |  View company's profile


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Being contained by 1.0986 previous high resistance, USDCHF pulled back from 1.0955 level. As long as 1.0821 support holds, we’d expect uptrend to resume, and further rise is still possible to re-test 1.0986 resistance. However, below 1.0821 level will indicate that the short term uptrend from 1.0650 has completed at 1.0955 level already, then deeper decline towards 1.0700 could be seen to follow.


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