FXstreet.com (Barcelona) - The wave of optimism propagated by the comments from an official at the ECB that the ESM may be given a bailout license has triggered a massive fall in the USD/CHF during European trading Wednesday.
“Momentum indicators are trading in overbought areas and that increases the possibility for a further downside correction even if the general bullishness remains valid.” writes the analyst team at ICN.com
The pair has recorded a sharp decline of -0.71% today, trading in the region of 0.9888 at the time of writing. The team of analysts at Amplify Trading points to the next supports at 0.9864 and 0.9832. On the ascension, the measures of resistance have been identified at 0.9986 and 1.0018.
“Momentum indicators are trading in overbought areas and that increases the possibility for a further downside correction even if the general bullishness remains valid.” writes the analyst team at ICN.com
The pair has recorded a sharp decline of -0.71% today, trading in the region of 0.9888 at the time of writing. The team of analysts at Amplify Trading points to the next supports at 0.9864 and 0.9832. On the ascension, the measures of resistance have been identified at 0.9986 and 1.0018.
