USD/CHF Classical 07.20
USD/CHF: Setbacks have finally found some interim support by 1.0400 ahead of the latest minor bounce. Daily studies have been highly oversold, and the latest positive cross of the RSI back above 30 could finally warn that a base is in place. Longer-term technical studies show good reason for the market to try and base out at current levels and as such, we like the idea of some major upside over the coming days and weeks. However, a break back above 1.0680 will now be required to confirm basing prospects and accelerate gains.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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