There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
USD/CHF could make a leg lower
USD/CHF remains strong across the board and stays well-consolidated above the 200 SMA at H1 chart. Now, the pair is entering a corrective phase that could allow a leg lower to test the 65% Fibonacci level at 0.9406. Around such area, we can expect a rebound to take place in order to rally towards the next target at the Fibonacci area of -23.6% at 0.9580.
RSI indicator stays in the positive territory, favoring to the bulls in the short-term.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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