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USDCHF Price Awaits More Bearish Correction – Forecast for June 20, 2024

by Jennifer

USDCHF Price Analysis

Expected Scenario

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The USDCHF pair has been trading within a narrow range around the 0.8840 level since yesterday, poised to resume its corrective bearish movement. The next target for this correction is located at 0.8780, with a potential further decline towards the 61.8% Fibonacci correction level at 0.8675 upon breaching this level. It’s crucial for the price to remain below 0.8885 to sustain the expected downward trajectory. Conversely, a break above 0.8885 could signal a halt to the bearish correction and initiate gains towards the 0.9014 region.

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Expected Trading Range

For today, the expected trading range for USDCHF is between the 0.8760 support and the 0.8900 resistance.

Trend Forecast: Bearish

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