USDCHF - Important moment - prepare for a move!

USDCHF, Daily

The daily chart clearly shows that the currency pair is in consolidation. Currently, the price is testing the key support level at 0.8821, which coincides with 50% of the range of sideways movement according to the smart-money concept.

If the support level holds, we can expect growth to resume at the upper boundary of consolidation, 0.8852.
If the level is broken, the decline could accelerate down to the lower boundary of the sideways range at 0.8792.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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