Sabi

USDCHF Trend Line Break & Major Support Level Breached

FX:USDCHF   U.S. Dollar / Swiss Franc
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FX:USDCHF

The USDCHF has broken it's multi-week trend line and has successfully fallen below the 0.76% fib level that has previously been supportive. It now seems to be acting as resistance, the pair is now wedged between this level and the daily 200MA.

A break of the 200MA would signal a resumption of the downtrend, once broken 0.95000 will be the initial target.

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