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USDCHF: Backs Off Lower Prices On Correction

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USDCHF: Backs Off Lower Prices On Correction

Postby FXTechstrategy » Wed Jan 17, 2018 1:47 pm

USDCHF: The pair halted its broader weakness on Wednesday leaving risk of more correction on the cards. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Above here if seen will turn attention to 0.9850. All in all, USDCHF faces further weakness short term but with caution of a recovery.

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FXTechstrategy
 
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