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Currency Strenght

Wednesday 26 December 2012

USDCHF 4hrs Boxing day



USD/CHF (daily chart) has dropped to hit a rough triple bottom just above the 0.9200 support region. In the process, it has established a new 7-month low. After the first bottom was hit in mid-September, price began forming a broadening pattern that has extended to the current third bottom. Broadening formations can be considered potential although the overall trend is bearish

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