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Daily Forex Technical Analysis: The USD/CHF Forms A Top Near 0.97?

ForexMarketz October 8, 2014 Technical Analysis Leave a comment 689 Views

USD/CHF (0.9587)

  • Resistance Levels: 0.9690, 0.9735, 0.9804
  • Support Levels: 0.9530, 0.9430, 0.9350
USD/CHF Daily MT 4 Chart
USD/CHF Daily MT 4 Chart

The USD/CHF has formed a top just below 0.97. We note the formation of a dark cloud candlestick which suggests a correction lower is in the cards. A move below 0.9530, with a daily close will challenge the technical level at 0.9430.

Should the dollar recover and move higher, we need to close back above 0.9690. If this happens we will target 0.9735 then 0.9804/05.

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