#USDCHF @ 0.89277 bulls eye a move into the M-formation´s neckline.
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- USD/CHF bulls eye a move into the M-formation´s neckline.
- Bears seek a break of key trendline support.
USD/CHF has slid into support and is meeting a trendline that is coming under pressure and exposing the 0.8915 and 0.8905 support structures as the following will illustrate.
The price is trying to break out of the trendline resistance as shown above, which makes for a bullish bias while above the micro trendline support structure. 0.900 is key in this regard as the bulls need to get above there.
Meanwhile, the 4-hour chart is seeing resistance as 0.8950 as being the neckline of the M-formation:
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