The pair continues to maintain its corrective pullback pressure though holding on its short term uptrend triggered from the 0.7068 level. On continued weakness, its immediate support at the 0.8928 level, its Sept 12'2011 high will be targeted where a reversal of roles as support could occur and turn USDCHF higher. However, if that fails to happen, its daily 200 ema at 0.8778 will come under bear pressure ahead of its Sept 15'2011 low at 0.8647 level with a clearance of there turning focus to its Sept 08'2011 low at 0.8532. The alternative scenario will be a return above the 0.9180 level, its Sept'2011 high with a breach of there resuming its short term uptrend towards the 0.9292 level, its April 06'2011 high. Further out, resistance stands at the 0.9340 level, its April 01'2011 high and possibly higher towards the 0.9400 level. All in all, the pair maintains an immediate downside bias but still retains its short term uptrend theme.
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