USDCHF Analysis:
USDCHF has broken the minor descending channel range and then rebounding harder from the retest area of the channel. USDCHF fell 5000 points from last 2 weeks, we can expect correction now.
After the confirmation of the upward movement, USDCHF buy signal given.
USDCHF retraces back again to the horizontal support zone due to Fundamental Economic news of Swiss Franc – positive CPI data and May month inflation data came positive- Inflation data increased from 2.5% to 2.9% (MoM)which leads to the short term fall on USDCHF and it reaches the SL price. However, USDCHF is still in a consolidation mode.
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