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Daily Forex Analysis – Jun 18, 2008

20080618_usdchf_1.gifUSDCHF Analysis.
USDCHF formed a short term cycle top at 1.0539 on 4-hour chart. Sideways consolidation in a range between 1.0301 and 1.0539 could be seen before breaking above 1.0539 level. As long as 1.0301 support holds, we’d expect up trend to resume, and rise above 1.0623 (May 8 high) is still in favor after consolidation.

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