LeoPrime Daily Market Analysis

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USDCHF trapped inside rising channel pattern ahead of FOMC.

The day had been quite bullish for the dollar as the fundamental releases Inflation headlines came in above expectations for March while the Core Index rose below consensus.As of writing USDCHF at 1.00207, bulls did not make it above the ascending channel in the 1 hour time frame and tested for the 3rd time in the channel resistance. Bears have good opurtunity to enter into the market targetting 0.99980. On the other side, If bulls gain momentum breaking the ascending channel, they have chances of reaching 1.00500 region.
The FOMC minutes at 18.00 GMT can lead to high volatility especially in USD-related currency pairs.

USDCHF TODAY:
Daily open: 0.99975
Daily Last high: 1.00336
Daily Last Low: 0.99896
Daily current growth: +0.23%

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