#USDCHF @ 0.89049 Bulls are on the backside of teh prior bearish trend.
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- Bulls are on the backside of teh prior bearish trend.
- USD/CHF offers the prospects of a final push that could see a test of the 0.8970s.
USD/CHF is holding in and around the 0.8900 area following a series of tests of the trendline dynamic resistance that has been forming on the 4-hour chart in a series of lower highs.
There is, however, a bullish bias while the price accumulates on the backside of the prior bearish trendline as the following will illustrate.
Zooming in on the weekly chart,m we can see that the bulls are moving in. A weekly break of the bearish trendline will be encouraging for a move toward a 50% mean reversion of the bear trend near 0.91000.
The 4-hour chart shows the bulls rejected each time they try to take control but we have prospects of a final push that could see a test of the 0.8970s as follows:
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