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USDCHF continues to rise after the earlier upward reversal from the key support level 0.93800 (monthly low from the start of June) – strengthened by the upper daily Bollinger Band. The upward reversal from this resistance level started the active short-term correction (ii). Given the strongly bearish sentiment storm affecting the Swiss franc today – USDCHF is likely to extend the gains toward the next resistance 0.94700 (target price for the completion of the active corrective wave (ii)).
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