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USD/CHF further drop could be activated

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USD/CHF range breakout

The USD/CHF pair is under massive pressure after failing to come back higher to reach and retest the range’s resistance, the upside line of 0.9266. Now, it challenges the range’s downside line, the 0.9177 support.

The pair dropped below this downside obstacle and it has found demand at 0.9171. In the short term, the USD/CHF pair rebounded, it has increased a little but the sellers are very strong.

USD/CHF trading conclusion

Failing to stay above 0.9177 and dropping below 0.9171 immediate low could activate a downside movement towards the former lower lows.

The material has been provided by InstaForex Company – www.instaforex.com

EUR/USD wave analysis on December 27: Sideways trend continues to develop

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