USDCHF is being held in a descending channel where if it breaks its 1st support at 0.9831 (horizontal swing low, it could potentially fall to its next support at 0.9724 (38.2% Fibonacci retracement). RSI (89) is in the same descending channel and Ichimoku cloud is also showing signs of bearish pressure which contributes to our bearish bias.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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