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Daily Forex Update: USD/CHF

Published 09/23/2013, 04:58 AM
Updated 03/09/2019, 08:30 AM

USD/CHF recently broke down below the strong daily Key Support Level 0.9150 identified by Autochartist. The pair is expected to continue to fall toward the target level 0.8908 in the following 48 trading days. The stop-level for this forecast is set by Autochartist at 0.9544. The price earlier broke down below the trendline cluster made out of the 3 longer-term upward-sloping support trendlines from October of 2011, February of 2012 as well as January of 2013 (as is shown on the second chart below). The breakout of this trendline cluster along with the Key Support 0.9150 accelerated the downward movement which should lead to further losses for this currency pair in the coming sessions.
USD/CHF
The following weekly USD/CHF chart shows the aforementioned support levels:
USD/CHF 2

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