LeoPrime Daily Market Analysis

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USDCHF rising inside sharp weekly correction; Likely to rise to 0.96200

USDCHF continues to rise inside the weekly sharp upward correction which started recently from the major support area lying between the long-term support level 0.92000 (which stopped the multi-month downtrend at the start of of 2018, as can be seen from the weekly USDCHF chart below) and the lower weekly Bollinger Band. Given the rising bullish sentiment affecting US dollar at the moment – USDCHF is likely to extend the gains toward the next resistance level 0.96200 (former key support which reversed the pair multiple times from the start of this year).

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