USDCHF is facing bullish pressure from its first support at 0.8976, in line with the horizontal pullback, where we could see a further bounce above this level towards 1st resistance where 61.8% fib retracement is. EMA is also suggesting that price could on support.

Trading Recommendation

Entry: 0.8976

Reason for Entry:

horizontal pullback support

Take Profit: 0.9042

Reason for Take Profit:

Horizontal swing high

Stop Loss: 0.8920

Reason for Stop Loss:

Horizontal overlap support

The material has been provided by InstaForex Company –

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