Forex Trading: USD/CHF Breaks Key Support

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Forex Trading: USD/CHF Breaks Key Support

By Greg Michalowski on December 17, 2008 | More Posts By Greg Michalowski | Forex News By FXDD

usd/chf

USD/CHF has broken a major support level at the 100 Day MA nad 61.8% Retracement of its move from Sept 22nd at 1.0692 to the High 11/21 at 1.2297. Look for next support at the 200 Day MA around 1.0845 with immediate resistance now seen at old support around 1.1300 A retracement break back above resistance could yield 1.1492 (R2) and on to 1.1682 (R3) with a break below looking for the old low around 1.0692

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