CORRECTION: USD/CHF in a bearish pattern, hovering right above 1.0980/90
Forex: USD/CAD in a bearish pattern, hovering right above 1.0980/90 support
The Dollar is trading within a slightly downward trending channel from 1.1135 -Monday's high-, moving around 1.1000 area on Friday's European session, with 1.0980/90 support level on sight.
The pair is moving in a 4-day bear flag, with scope towards 1.0924 area, says Slobodan Drvenica, technical analyst at Windsor Brokers Ltd: "Highlights possible 4-day bear flag breakout, while attempting through 1.0995, 21 June previous weekly low, with scope seen for further corrective decline towards 1.0924 10 May low/ near 61.8% retracement of 1.0435/1.1730 upleg."
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