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USD/CHF: From Short-term to Long-Term Wedge Patterns; 0.8555 is Critical
Since hammering out another fresh record low, the USD/CHF failed to sustain the breakout to the downside to a recently projected range. - The 4H chart shows the market breaking above a wedge, with the origin of the wedge near 0.8550-0.8555. - We might see some very short-term correction after a 5-wave rally seen in the 4H chart. If the market holds above 0.84, we have further evidence of bottoming. - Other evidence that this is a clear-out which actually builds strength despite making a fresh low, is that the RSI reading in the 4H chart failed to break below 30. - Now the RSI reading is about to break 70. This shows ... (full story)