The USD/CHF pair moved higher during the Asia-Pacific session, briefly breaking above a key swing area between 0.8794 and 0.87995 (round to 0.8800). The climax of the day was reached 0.88035 before going back to the bottom.
The failure to maintain upward momentum 0.8800 it triggered a move lower, with the price reconfirming the 200-bar moving average on the 4-hour schedule at 0.8780. A subsequent bounce lifted the pair back into the swing zone, but the sellers held firm.
During the US session, the downward trend accelerated as the price dipped below the level 200-bar moving average at 0.87804pushing the couple to a low level 0.8758.
Looking forward:
- The next support: 61.8% of the November trading range at 0.87452.
- Immediate attendance: Swing range between 0.8772 and 0.8776.
Sellers have more control due to the technical trend lower today, and the sellers near the 0.8800 level today.
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