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USDCHF testing strong support, prepare for a potential bounce

Long
U.S. Dollar / Swiss Franc (FX:USDCHF)  
Tickmill Broker  
FX:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns USDCHF USD chf usdchfanalysis usdchfshort usdchflong usdchfidea usdchfprediction usdchftrade
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trendanalysis harmonicpatterns chartpattern usdchf usd chf usdchfanalysis usdchfshort usdchflong usdchfidea usdchfprediction usdchftrade
USDCHF is testing major support at 0.9589 (ABC Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) and a strong bounce could occur at this level to drive price up to at least 0.9695 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (55,5,3) is seeing major support above 0.5% where a potential corresponding bounce could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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