ALB Limited 11.06.2020

Chart of the Day USD/CHF Analysis

The USDCHF is currently showing signs of weakness across multiple timeframes trading below key moving averages. Having taken out yesterday’s low at 0.94248, other indications are supporting this bearish bias. On the daily timeframe, the price is trading below the wedge formation created on 14.04.2020, tested on 01.05.2020, 04.06.2020, and 05.06.2020, and currently had two-day closes below the wedge indicating bearishness in this pair. The projection of the range of the wedge from the breakout point is around the 0.9350 level and potentially much lower towards 0.9260.

Tags: Chart of the Day, USDCHF

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