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US Dollar/Swiss Franc pair tries to correct downward trend - Analysis - 02-08-2023
The USD/CHF pair rose in the intraday levels while attempting to correct the main downward trend in the medium term, as the pair trades alongside the trend line, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
As the pair settled back below 0.8700, it's likely the pair will give in to negative pressures, targeting thereafter the pivotal support of 0.8565 in the short term.
Expected trading range for today is between the 0.8650 support and the 0.8800 resistance.
Expected trend for today: Likely Bearish
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