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USDCHF recently reversed down from the resistance zone lying between the resistance level 0.978500 (which stopped the previous upward corrections A and (2) in April) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active short-term impulse wave 3. With the moderately bearish US dollar sentiment seen today – USDCHF is likely to extend the losses toward the next support level 0.96800 (low of the previous short-term correction).
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