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EUR/CHF Turns Down from Resistance Confluence

EUR/CHF (daily chart) as of Thursday (10/20/2011) has hit and tentatively respected a key resistance confluence that includes both a long-term descending resistance trend line extending back almost two years, and a key support/resistance line at the important 1.2400 level. Therefore, price is currently at a critical juncture. For more EUR/CHF forex technical analysis, please click here.

James Chen, CTA, CMT
Director of Technical Research and Education