HomeContributorsTechnical AnalysisUSDCHF Sees Price Reversal On Loss Of Momentum

USDCHF Sees Price Reversal On Loss Of Momentum

USDCHF sees price reversal on loss of up momentum. This is has opened the door for more weakness. Resistance resides at the 0.9850 level. Above here, resistance lies at the 0.9900 level and then the 0.9950 level. Further out, resistance comes in at the 1.0000 level. On the downside, support is seen at the 0.9800 level with a turn below here opening the door for more decline towards the 0.9750 level. And then the 0.9700 level. Further down, support resides at the 0.9650 level. All in all, USDCHF remains biased to the downside on further corrective

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Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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