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USD/CHF Technical Analysis: Swiss Franc Recovery Hinted

Ilya Spivak

USD/CHF Technical Analysis- Prices put in a bearish Dark Cloud Cover candlestick pattern, hinting a move lower is ahead. Near-term support is at 0.9425, the 14.6% Fibonacci expansion, with a break beneath that targeting the 23.6% level at 0.9361. Resistance is at 0.9529, the July 2 swing high.

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Swiss Franc Recovery Hinted

Daily Chart - Created Using FXCM Marketscope 2.0

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

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