The USD/CHF under the negative pressure – Analysis – 16/08/2021

chf_forexThe USDCHF pair broke 0.9200 level strongly and approached 0.9135 level, which makes us prefer staying aside until we get clearer signal for the next trend, which we will get through surpassing one of the mentioned levels.

Note that breaking 0.9135 support will press on the price to achieve more decline that its next target reaches 0.9060, while breaching 0.9200 resistance represents the key to resume the bullish trend that targets 0.9265 followed by 0.9345 levels as next main stations.

The expected trading range for today is between 0.9100 support and 0.9220 resistance.

The expected trend for today: Neutral

Origin: Economies

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