Like the EURUSD, the USDCHF made a gap today, opened more than 100 pips lower than close price on Friday. On daily chart below we can see that price is now struggling around the lower line of the major bullish channel indicating critical technical phase. Consistent move below the bullish channel could be seen as a serious threat to the major bullish scenario and a beginning of a new bearish phase at least testing 1.0420 area. Immediate resistance at 1.0640. Break above that area should keep the bullish scenario intact.
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