The USD/CHF, which measures the number of Swiss Francs that one US Dollar can buy, has been oscillating within a relatively tight range between roughly 0.8900 and 0.8740 since the middle of February.
The pair is overall in short-term uptrend with the expectation that it will eventually breakout from the current range and start moving higher. However, resistance from a long-term trendline and the 50-week Simple Moving Average (SMA) present considerable obstacles to a prolongation of the trend
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