Technical analysis for the USDCHF on 25.11.2015

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The USDCHF has corrected to the lower border of the ascending channel at 1.0145

usdchf1

The second test of 1.0220 resistance triggered correction down. Potential target is situated at the lower border of the ascending channel – 1.0145.

The price approached this barrier amid low volumes, which indicates weakening bearish potential. Long consolidation above 1.0145 will most likely initiate the rebound up.

The main growth target is found at 1.0220 resistance. If the third attempt to break above this barrier turns out successful, medium-term bullish trend will continue with the target at 1.0300.

Alternative scenario:

Correction down will continue of price breaks and holds below 1.0120 support. The breakout will open the way to 1.0085, 1.0000.           

 

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