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Forex: USD/CHF Technical Analysis – Edging Along Wedge Top

Ilya Spivak

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Talking Points

  • Prices rose as expected after showing a Doji candle, completing a Falling Wedge pattern
  • Support is in the 0.9074-92 area (23.6% Fib, Wedge top); below that eyes the 0.90 figure
  • Resistance is in the 0.9194-0.9218 region (trend line from Feb’12, 38.2% Fib retracement)

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Edging Along Wedge Top

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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