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Special Focus USDCHF

VIEWS: 18 PAGES: 2

USDCHF: With the pair breaking and holding below the 0.9238 level, further downside is likely in the days ahead.

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									            Wednesday, 18th of Oct, 2012                                FXTechstrategy Team
                                                                      info@fxtechstrategy.com
               SPECIAL FOCUS
                     USDJPY
                                           USDCHF: Bearish, Set To Correct Further
                                           Lower.

                                           USDCHF: With the pair breaking and holding
                                           below the 0.9238 level, further downside is
                                           likely in the days ahead. Further weakness
                                           should build up towards the 0.9193 level, its
                                           May 07’2012 low where a breach will aim at
                                           the 0.9100 level and ultimately the 0.9000
                                           level, its big psycho level. Its daily RSI is
                                           bearish and pointing lower suggesting further
                                           declines. On the upside, the pair will have to
                                           return above 0.9274 level and the 0.9374
                                           levels to end its present bearishness and then
                                           turn attention to the 0.9424 level. Above here
                                           will resume its short term uptrend now on hold
                                           towards its Sept 10'2012 high at 0.9482
                                           followed by the 0.9606 level. On the whole,
                                           the pair remains biased to the downside in the
                                           medium term.

                                           To read the full version of this 7 model
                                           currency analysis check out FXT Technical
                                           Strategist Plus

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