Technical indicators show mixed results about the pair’s direction during the following sessions. As apparent on the chart, the Franc has been trying to overcome the 55-hour SMA—an area which is likewise reinforced by the weekly PP and the 61.8% Fibo.
This strong resistance cluster is expected to pressure the rate lower during this session. This fall, however, should not be long-lasting, as the weekly PP and the 200-hour are located nearby circa 1.3620. As a result, these two barriers could bound the rate for several sessions.
Its subsequent movement might be lower, setting the 1.3520 area as a possible downside target.
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