USDCHF Trading At Support

USDCHF has started to slip lower after lacking the strength to make a new high or at least stay above 1.1400; currently the pair is trading at the support zone around 1.1350 a former high and also the intersection point with a trendline connecting higher lows. The trend still is bullish but a break below this trendline will certainly stop a few longs and give bearish traders enough of a reason to considerate opening new positions, for the short term at least.

USDCHF has started to slip lower after lacking the strength to make a new high or at least stay above 1.1400; currently the pair is trading at the support zone around 1.1350 a former high and also the intersection point with a trendline connecting higher lows. The trend still is bullish but a break below this trendline will certainly stop a few longs and give bearish traders enough of a reason to considerate opening new positions, for the short term at least; fisrt bearish target is the 1.1300 round number followed by the 1.1250 area where we have seen interesting price action earlier in the week.

 

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