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Technical analysis for the USD/CHF, the pair is holding support and 0.786 FIB retracement for four weeks, consolidating on the weekly chart. This consolidation formed a double bottom and forming a descending triangle on the daily chart. If the price break above the descending triangle and 0.9050, it will send the USD/CHF pair higher toward the 0.382 FIB retracement at 0.9135.
On the other hand, if the price break below the support zone between 0.8900 – 0.8925, it will send the USD/CHF pair toward the previous weekly low at 0.8757.
Daily chart:
Weekly chart:
