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USD/CHF Follows Through on Head-and-Shoulders Breakdown

posted by Avatar jameschen 211 days ago in USD, CHF, Technical made popular 211 days ago

USD/CHF (daily chart) as of Thursday (10/27/2011) has extended its fall substantially after breaking the neckline of a well-formed head-and-shoulders reversal pattern. Thursday’s price action saw the pair drop more than 200 pips to hit a 7-week low just below 0.8600, approaching key support in the 0.8550 price region.
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