USD/CHF all set for a nice dip

USD/CHF is moving in a nice downward trend and all set for a nice dip towards 0.8550 level. The traders will generally look to sell USD/CHF around 0.8850 level for a nice dip towards 0.8550 level. Some traders might look only to target 0.8685 level but generally traders will expect the USD/CHF to break towards that level. On the upper side, if USD/CHF manages to break above 0.8850 level, then the traders will shift their focus on an important 0.9000 level.

Looking at the moving averages used in weekly charts, the USD/CHF is below the long term moving average and above the medium term moving average. The long term moving average is around 0.9000 level which indicated a good selling point for long term traders and will look to target medium term moving average around 0.8550 level.

Looking at the moving averages used in daily charts, the market is below the medium term moving average and above the long term moving average. The entry point around the medium term moving average seems a good option around 0.9000 level and profit target seems towards long term moving average around 0.8550. Thus in both time frames same two levels are being indicated for entry and profit targets.

 

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