USDCHF Outlook |
Written by ActionForex.com |
Nov 07 16 02:54 GMT
Daily Pivots: (S1) 0.9653; (P) 0.9705; (R1) 0.9731; More…..
USD/CHF recovers today and breaks 0.9759 minor resistance. Intraday bias is turned neutral first. At this point, we’re slightly favoring the case that consolidation from 0.9443 has finished at 0.9998. Below 0.9675 will target 0.9639 support first. Break of 0.9639 would possibly extend the decline through 0.9443 to resume the whole fall from 1.3027.
In the bigger picture, no change in the view that choppy fall from 1.0327 is seen as a corrective move. Current development suggests that it’s still in progress and is possibly ready to resume. Break of 0.9536 should target 100% projection of 1.0327 to 0.9443 from 0.9998 at 0.9114. We’d expect strong support from 0.9072 to contain downside and bring reversal.
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USD/CHF Daily Outlook
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