USDCHF holds 200 hour MA and 38.2% Fibo support

Written January 15, 2010 at 10:40 AM EST by  

 gregmike-00088

The USDCHF fell through support at the 1.0250 level but held the support agains theh 1.0242 level where the 200 hour MA and the price rebounded.  The 1.0276 level is the next target, but the break above the channel trendline, the holding of the 200 hour MA should have the bulls feeling more comfortable.  Where they get concerned is a break through the 200 hour MA now.

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