Swiss Franc insight technical analysis USDCHF bearish correction November 21, 2017
- US Dollar is trading at 0.9894 against the Swiss Franc at 10:40 GMT this morning, 0.14% higher
- continues to move within a bearish correction.
- formation of an inverted «Head and Shoulders» model.
Switzerland’s trade balance figures, set to release tomorrow, will be on investors’ radar.
CURRENCY TRADERS Dollar Franc USD/CHF continues a bearish correction. At the moment, we should expect an attempt at 0.9900 level and continue growing above 1.0070. In favor of the growth of the Dollar/Franc pair will perform a test of the broken support line on the indicator of relative strength index (RSI), as well as the formation of an inverted «Head and Shoulders» model.
USDCHF bearish correction
The US Dollar is trading at 0.9894 against the Swiss Franc at 10:40 GMT this morning, 0.14% higher from the New York close. Looking forward, Switzerland’s trade balance figures, set to release tomorrow, will be on investors’ radar. The pair traded at a high of 0.9901 and a low of 0.9878 this morning. On Friday, the USD traded 0.38% lower against the CHF in the New York session and ended at 0.9880. The pair is expected to its find support at 0.9870 and its first resistance at 0.9925.
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