LeoPrime Daily Market Analysis

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USDCHF reversed from support area; Likely to rise to resistance level 0.91500;

USDCHF currency pair recently reversed up from the key support area located between the long-term support level 0.91000 (which has been reversing the pair from the middle of August), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward price move from June. The upward reversal from this support area stopped the previous short term correction (ii). Given the strength of the aforementioned support area – USDCHF currency pair can be expected to rise further toward the next resistance level 0.91500.

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