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USDCHF Analysis - Feb 24, 2008

Long Term Forex Analysis | by ForexCycle.com | Saturday, 23 February 2008 20:23 UTC

USDCHF broke below the key support at 1.0884 and topped at 1.1105 on daily chart. Deeper decline to test 1.0729 can be seen next week, a break below this level will confirm the long term down trend, and further fall towards 1.0600 area is expected to follow. Near term resistance is at 1.1105, only break of this level will indicate lengthier correction to the long term down trend.

For long term analysis, USDCHF is in long term down trend. Further fall towards 0.9000 to reach the next cycle bottom on weekly chart is expected.

usdchf daily chart

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