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- USDCHF has stubbornly climbed for the past 3 consecutive days.
- Yesterday has however shown that price has met with strong resistance within the supply zone.
- It is important to note that the price is considered to be very high as it is getting very close to a 27-month supply zone.
- It is also obvious that the buying strength is not particularly strong as compared to the previous downtrend.
- Therefore, today which is also the last trading day of the week, there’s a high possibility that institutional traders will begin the process of distribution.
- In conclusion, whether is it the technical patterns or the consideration of supply and demand, the price is most likely to proceed into a bearish trend.