For now the USDCHF chart is forming a bearish pattern as the EMA 11 is below the EMA 56. There is a slight chance for bulls to appear in the chart for this week. Currently the price is in neutral zone above 0.9650 not deciding where to go but it is still falling from the November high at 1.0327. A breakout from the resistance level at 0.9802 will smooth the way for bulls otherwise the chart would stay bearish moving towards the support level at 0.96700. Traders can give themselves a rest for this pair and wait for the price to show more signals on its future trend.
Technical analysis of USDCHF dated 23.03.2016
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