Friday, July 28, 2023
USD/CHF Minor Retreat!
The USD/CHF pair is trading at 0.8698 at the time of writing. The rate passed above the downtrend line and now it has moved somehow sideways. The former low of 0.8569 represents a downside obstacle. Its failure to stay below it signaled exhausted sellers.
Now, it has jumped once again above the 0.8677 former high which stands as an upside obstacle indicating very strong buyers. Stabilizing above this broken level may announce further growth.
USD/CHF Trading Conclusion!
Jumping above 0.8677 may announce an upside continuation. Passing beyond today's high of 0.8732 may announce a larger growth.
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