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USDCHF : A New Uptrend Channel Formed

USDCHF dollar broadly went lower today after the missed GDP report. However as Blogger Fan Yang mentioned the losses seems limited. On the 4 hour chart, the pair started following an upward sloping channel. The resistance trend line is the previous support trend line of the pair. The pair should find the support from the new support trend line of the channel. There is also a key support level at .8791.  If the pair breaks below this support level the next support the pair will find is at .8773.