13th Sep - USD/CHF Pullback Nears Key Supports
13 September 2012
WEEKLY CHART:
Earlier gains found clear resistance from the 0.9955 61.8% retracement area, which prompted a pullback. This has now closed in on the 0.9290 23.6% level which offers first interesting support here.
DAILY CHART:
The market has continued to slip back, now testing support from the rising support line and 0.9334 15-Mar high area not much below.
We have also drawn in a channel base support running through 0.9300, which nicely coincides with the 23.6% level on the Weekly chart above. A break of this would be a clear negative signal and invite lower targets.
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13th Sep - The Rally in Gold Continues