
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
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Last week it looked like EUR/NZD may test the uptrend which still remains strong. Now we are much more certain that the pair will test lower levels. Have a look at the bearish candlestick with a long upper wick formed on D1 - it’s sending a clear negative signal. Add the fact that on H4 we clearly see a lower high and a potential “Head and Shoulders” pattern. Indeed, 1.7200 is a hard resistance, so a pullback to the 1.70 area and maybe lower is likely.
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
NZD/USD met resistance around 0.6565 (61.8% Fibonacci of the July-October decline, top of the October-December bullish channel).
The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
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USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
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