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USDCHF : Trading Within a Narrow Range

(USDCHF : 4 Hour Chart)

USDCHF currently trading in a narrow range within the support and resistance at .9007 and .8988 respectively.The bias is towards the downside because of the downbeat US data released today and the pair should anytime break the support at .8988. The next support the pair will find is at .8978 if it declines.

(USDCHF : Daily Chart)

Broadly looking at the Daily chart of USDCHF, the 50 day SMA is contracting towards the 100 day SMA to cross above it and if do so we can expect an uptrend so may be the pair will be rising finding support. 

Key Support : .8988 

Key Resistance : .9007