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| Analyst Pick |  |
Friday, 20th May, 2016, 05:00 GMT
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By Matthew Ashley
Currency Analyst
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| Pick of the day |
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 | USDCHF |  | 0.9858 |  | 0.9652 |  | 1.0006 |
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- Bearish Bat pattern nearing completion.
- Heavily oversold Stochastics and RSI.
- Nearing a robust zone of resistance.
- Poor recent US fundamental results.
|  NEWS TO WATCH |
- 21 May 02:00 GMT USD Existing Home Sales
- 24 May 01:45 GMT USD Markit Flash Manufacturing PMI
- 24 May 18:00 GMT CHF Trade Balance
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| Pick Summary
Our analyst pick today is the USDCHF which could be in for a tumble as a result of the Bearish Bat pattern which is nearing completion. Additionally, highly oversold stochastics and RSI readings will cause selling pressure to mount as the week comes to a close. Furthermore, any upside potential is likely to be capped by the robust zone of resistance around the 0.9966.
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