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Technical analysis of USD/CHF for April 11, 2017

USDCHFM30.png

USD/CHF is expected to trade in a lower range as the key resistance is seen at 1.0050. The pair is still trading below the key resistance at 1.0100, which should limit the upside potential. Even though a continuation of a technical bounce cannot be ruled out, its extent is likely to be limited.

The speech given by Federal Reserve Chairwoman Janet Yellen provided no new information and caused muted reaction from the greenback.

To conclude, as long as 1.0100 is not surpassed, expect a return to 1.0050 and even to 1.0030 in extension.

Resistance levels: 1.0110, 1.0130, and 1.0165

Support levels: 1.0050, 1.0030, and 1.000

The material has been provided by InstaForex Company - www.instaforex.com