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Short

USD/CHF forms Bearish Butterfly Pattern, good to sell on rallies

FX:USDCHF   U.S. Dollar/Swiss Franc
189 0 3
Harmonic Pattern formed- Bearish Butterfly Pattern

Potential Reversal Zone -1.0125.

The pair has made a high of 1.0085 at the time of writing and started to decline from that level.

Any break above 1.0125 will take the pair to new level 1.0160/1.0240 in short term.

On the downside major support is around 1.0025 and break below targets 0.9980/0.9950.

Overall weakness only below 0.9980 levels.

It is good to sell on rallies around 1.0065-70 with SL around 1.0125 for the TP of 0.9980/0.9950
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