Technical analysis of USD/CHF for May 26, 2016
May 26, 2016 10:40 amVideo
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Overview:
Yesterday, the USD/CHF pair continued to move upwards from the level of 0.9880. The pair rose from the level of 0.9880 (this level of 0.9800 coincides with the double bottom) to the top around 0.9937. In consequence, the USD/CHF pair couldn’t break resistance (0.9337). So, the level of 0.9337 is expected to act as minor resistance today. From this point, we expect the USD/CHF pair to continue moving in the bearish trend from the resistance level of 0.9337 towards the target level of 0.9858. If the pair succeeds in passing through the level of 0.9858, the market will indicate the bearish opportunity below the level of 0.9858 in order to reach the second target at 0.9790.
The material has been provided by InstaForex Company – www.instaforex.com
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