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USD/CHF Should See Upside Resume

USD/CHF Should See Upside Resume



BIAS: We should see the upside resume

Resistance: 0.9770-750.97890.98060.9824-35Support:0.9732-390.9710-200.96840.9646-71

MAIN ANALYSIS: We saw the gains to the 0.9798 to 0.9830-36 area as expected. From there we have seen a pullback to 0.9739. This may be the final corrective low but allow for 0.9732. As suggested yesterday, the next rally should rally back above the 0.9835 projection but within a range up to 0.9852. This will require a correction of around 60 points (+/-). From this pullback the next rally must reach 0.9902 (most likely) or 0.9934. Take care when these targets are being approached and observe momentum. We should be due a correction of around 100-130 points.

COUNTER ANALYSIS: Only directly below 0.9730 would concern. I’d still basically suggest watching for bullish reversal indications but note how EUR and GBP are developing. The clear break level is at 0.9684…

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