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The USDCHF attempts to start bullish correction – Analysis - 01-05-2023
The USDCHF pair breached the bearish channel’s resistance and settled above it, to head towards starting bearish correction for the decline that started from 0.9434 areas, on its way to test 0.8995 level initially, noting that breaching this level will push the price to visit 0.9080 areas as a next main station.
Therefore, we expect to witness positive trades in the upcoming sessions, supported by stochastic and the EMA50 positivity, noting that breaking 0.8905 will stop the expected rise and press on the price to resume the main bearish trend again.
The expected trading range for today is between 0.8880 support and 0.9030 resistance.
The expected trend for today: Bullish
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