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USDCHF faces rejection at 0.7990 as sellers regain control
USDCHF declined during Asian trading, temporarily breaching the 0.7938-0.7947 support zone before buyers emerged to push prices higher. The rebound stalled at 0.7984, just shy of the critical 0.7986-0.7994 resistance area, prompting renewed selling pressure. This zone now serves as the decisive level for near-term directional bias. The pair's inability to sustain breaks below support or above resistance indicates a range-bound market awaiting fresh catalysts. Technical traders are closely monitoring these levels, with a sustained break above 0.7994 potentially opening the path to 0.8020, while failure to hold above 0.7938 could accelerate declines toward 0.7900. The current price action suggests market indecision, with neither bulls nor bears establishing clear dominance in the absence of significant fundamental drivers.
USDCHF
Sentiment:
Neutral
Source: Finnhub