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USDCHF Classic Technical Report 10.10.2012  Join our daily free Newsletter

MENAFN - DailyFX - 10/10/2012

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Prices are testing above resistance at 0.9411, the 23.6%Fibonacci retracement, after breaking past a falling trend line set from the late-July swing high. A push above this barrier targets the 38.2% retracement at 0.9518. Support marked by the 14.6% Fib at 0.9345. A push below that exposes rising trend line support at 0.9275.

USDCHF_Classic_Technical_Report_10.10.2012_body_Picture_5.png, USDCHF Classic Technical Report 10.10.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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