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05.08.202218:41 Forex Analysis & Reviews: USD/CHF upside reversal

Exchange Rates 05.08.2022 analysis

USD/CHF 0.9644 Key Level!

The USD/CHF pair registered a strong growth today and it was traded at 0.9627 at the time of writing. After escaping from the down-channel pattern, it has signaled that the sellers are exhausted and that the downside movement could be over.

The rate retreated a little after the last strong growth. It has failed to reach and retest the broken downtrend line and now is almost to reach the 0.9644 key level, the former high.

USD/CHF Trading Conclusion!

Passing and stabilizing above 0.9644 could activate an upside continuation and could help the buyers to catch a larger growth, an upside reversal.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2022
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