USDCHF: Tumbles On Price Sell-Off

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Sunday 23 AUG15

• USDCHF Tumbles On Price Sell-Off

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Commodity Technical Research www.fxtechstrategy.c
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EURUSD
USDCHF Tumbles On Price Sell-Off USDCHF With
USDCHF selling off strongly the past week, a
follow-through lower is envisaged in the new
week. On the downside, support comes in at the
0.9400 level. A turn below here will open the
door for more weakness to occur towards the
0.9350 level and then the 0.9300 level. A cut
through here will open the door for more weakness
towards the 0.9250 level. Its daily RSI is
bearish and pointing lower suggesting further
weakness. Resistance resides at the 0.9500 level
with a breach targeting the 0.9550 level. A
respite may occur here and turn the pair lower
but if taken out, expect a push higher towards
the 0.9750 level. All in all, the pair remains
biased to the downside.
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