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15.12.2020 11:46 AM
USD/CHF In The Seller

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USD/CHF is expected to drop further after escaping from the down channel. The downside breakout signals a potential sharp drop in the short term. The rate has retested the broken downside line validating a larger drop.

I've told you in my previous analysis that a downside breakout suggests selling. So, the outlook is bearish as long USD/CHF stays under the broken downside line. The pair could continue down towards 0.8800 if the US Dollar Index will decline further as well.

  • USD/CHF Trading Conclusion

USD/CHF is almost to register a fresh new lower low, dropping somewhere below 0.8850 could bring a selling opportunity with a first target at 0.8800 psychological level. The major downside target is seen at the black downtrend line.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
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