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USDCHF Weekly Technical Outlook | December 20, 2014
USDCHF is following a upward channel. This pair is near to upper line of upward channel. So it can act as good resistance. This is now full of bullish momentum. So our recommendation is for taking buy from every retracement in this pair. Target will be 1.0000 for buy entry.
In daily chart, we can see a bearish divergence. Price is moving up but MACD is going down. So this is a reversal pattern. So we need to wait for bearish confirmation. For sell entry, target will be 0.9600 area.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 1.0042
Resistance One (R1): 0.9940
Pivot Point: 0.9748
Support One (S1): 0.9646
Support Two (S2): 0.9454
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