| USD/CHF - Steep Uptrend and Hitting New Highs Posted: 26 May 2010 08:55 AM PDT  Price action on USD/CHF, a daily chart of which is shown, reached up to approach key resistance in the 1.1700 price region on Tuesday (5/25/2010), establishing a new 13-month high for the pair. After hitting this long-term resistance high, price retreated substantially, forming a clear shooting star candle pattern on the daily chart. Wednesday's (5/26/2010) price action finds the pair consolidating well under resistance as of early New York session. Despite the shooting star retreat, price is still very much entrenched within an exceptionally steep uptrend. For more technical analysis on this currency pair, please click here for Wednesday’s (5/26/2010) Chart of the Day.
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