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USDCHF - Free Forex Market Analysis

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Sunday, December 30, 2007 at 10:15 GMT

USDCHF formed a cycle top at 1.1595 on daily chart. Further pullback towards 1.1100 area to reach the next cycle bottom is still possible. Near term resistance is at 1.1595, a break above this level will signal the resumption of the up trend. For long term analysis, the pair formed a long term cycle bottom at 1.0890 on weekly chart, and further rise towards 1.2900 area is still in favor.

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