USD/CHF 4H chart: Decline could continue

The US Dollar has declined by 171 pips or 1.87% against the Swiss Franc since last week's trading sessions. The currency pair was pressured lower by the 50– period simple moving average. Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, sellers are likely to continue to pressure the exchange rate lower within this week's trading sessions.

However, the weekly support level at 0.8950 could provide support for the USD/CHF currency exchange rate this week.

USDCHF

EUR/GBP 4H chart: Bears could prevail

The common European currency has edged lower by 120 pips or 1.38% against the British Pound since May 1. The currency pair breached the 50– and 200– period SMAs during this week's trading sessions.

Everything being equal, the exchange rate could continue to edge lower during the following trading sessions. The potential target for bearish traders could be near the 0.8400 level.

However, the weekly support level at 0.8550 might provide support for the EUR/GBP currency exchange rate in the shorter term.

EURGBP

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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