It is Friday and although there is time before the close for the current trading week, it’s time to look ahead to next week from a technical perspective.
This week the USDCHF pair fell as dollar selling was more dominant. Technically, the run above the 200-day moving average last week and earlier this week failed. That gave the sellers the go-ahead to push lower. That move to the downside did have a limit however at 0.8727 – a swing area target going back to November December 2023. On the top side, close resistance now comes in at 0.8787 which represents a 50% midpoint of the range since the October 2023 high.
Find out all about in the video above.
This article was written by Greg Michalowski at www.forexlive.com. Source