USD/CHF is moving in a nice downward trend and moving in a classical, gradual and smooth downwards trend by taking reasonable retracement and then continuing the downward move. USD/CHF is not only providing long term traders with decent opportunities but also seems to provide intra-day traders will good trades based on small profit targets.
Currently USD/CHF is again taking retracement by moving in sideways trend and setting itself for a dip again. At the moment traders will be looking to sell USD/CHF for something around 0.8390 level for initial targets around 0.8270 level. If USD/CHF breaks above 0.8390 level, then it will look to target 0.8600 level next and aggressive traders might look to capitalize on that move by reversing their positions. On the lower side once USD/CHF manages to break below 0.8270 level, it will be targeting 0.8100 level but that dip is expected to be a gradual one and in the same manner as USD/CHF is moving gradually.
The moving averages are also nicely placed and are all pointing downwards. Once USD/CHF takes some retrace and touches 0.8390, it will be touching the medium term moving average and take a dip from there. RSI is around 36 and has opened up after current retrace and seems to have more than enough space to allow USD/CHF to resume downward trend again.
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