MT4 - USDCHF residual bullish momentum in USDCHF has evaporated, causing the price to dip below 0.9684 support. As we suggested yesterday, a solid close below 0.9662 would open up a broader move to our extension target of 0.9585.
The next resistances can be found at 0.9873 (12th & 13th July high), 0.9900 (2nd Aug high), 1.0000 (psychological resistance), 1.0070 (1st Dec 11’ pivot high), 1.0149 (2010 pivot), then 1.0294 (10th Sept 10’ high).
The first levels of support should be located at 0.9584 (5th July close, 6th July opening), 0.9419 (17th June low), 0.9369 (21st May Support), then 0.9183 (7th & 11th May low).
MT4 platform and analysis courtesy of Swissquote bank.
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