Daily Technical Stategist USDCHF 01 03 11

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USDCHF: Although USDCHF has halted its declines and triggered a recovery on Wednesday, it continues to hold on its broader downside bias started from the 0.9591 level.

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1 Thursday, 01th of Mar, 2012 DAILY TECHNICAL STRATEGIST USDCHF USDCHF – Halts Weakness, Upside Risk Builds Up. USDCHF: Although USDCHF has halted its declines and triggered a recovery on Wednesday, it continues to hold on its broader downside bias started from the 0.9591 level. In case of any failure of its mentioned recovery, the 0.8929 level will be targeted with a violation of here extending price weakness towards the 0.8890 level, its Nov 03’2011 low. Further down, support lies at the 0.8700 level, its psycho level with a breach opening the door for further weakness towards the 0.8609 level and then the 0.8568 level. On further recovery, the 0.9091 level, its Feb 09’2012 low will be targeted. A reversal of roles as resistance is expected to occur at this level. However, if this fails to occur, the 0.9299 level, its Feb 16’2012 high will come in as the next upside target. Further out, the 0.9504 level, its Jan 13’2012 low and then the 0.9591 level will serve as the next upside target. On the whole, the pair remains biased to the downside though attempting a recovery. To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus FXTechstrategy Team info@fxtechstrategy.com www.FXTechstrategy.com Providing Balanced Independent Research

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2 This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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