- The USD/CHF has slipped back towards 0.9861 levels, after failing to break above 0.9910 levels. Currently the pair is approaching 38.2 fib levels located at 0.9832, a strong rebound is expected to take place sooner or later from around this area as this level is a strongly support zone for the bears. Therefore, its good to buy around 0.9832 levels.
- To the upside, the strong resistance can be seen at 0.9910, a break above this level would take the pair all the way towards 0.9954 levels.
- To the downside immediate support can be seen 0.9832, a break below this level will take the pair to next level at 0.9800.Recommendation: Go long above 0.9832, targets 0.9900, .9950, SL 0.9750Resistance LevelsR1: 0.9880 (23.6 % Retracement level)R2: 0.9910 (Daily highs)R3: 0.9954 (Oct 28th high)Support LevelsS1: 0.9832 (38.2% Retracement level)S2: 0.9800 (50% Retracement level)S3: 0.9526 (61.8% Retracement level)
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