FX.co ★ Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Wednesday June 05, 2024.

Even though the dominance of Buyers on the 4-hour chart of the main currency pair USD/CHF is still quite strong, as indicated by the position of the EMA 50 which is in the EMA 200 (Golden Cross) position, the position of the Stochastic Oscillator indicator which is already at the Overbought area level gives an indication that in In the near future, USD/CHF has the potential to be corrected down, especially if the resistance level at the bearish Orderblock 0.9132 is strong enough to hold back the rate of strengthening of USD/CHF and most importantly, it does not broken above the 0,9150 level, then USD/CHF has the potential to be corrected down to 0.9098 and If this level is successfully broken downwards, USD/CHF will continue its downward correction to the 0,9084 level as the main target and if momentum and volatility support it, the 0,9068-0,9050 area level will be the next target to be tested.

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