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14 Apr 2015
USD/CHF expected to rally after testing the 0.9620-0.9690 support – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, expects USD/CHF to stage a rally after seeing a short-term retracement to the support around 0.9620-0.9690.
Key Quotes
“USDCHF is turning higher, now already well above the upper line of a downward channel which is an important signal that corrective retracement from 1.0129 is finished.”
“Current rise through 0.9755 swing is also confirming a change in trend. As such, more upside is expected in April, especially after a red wave 2) that could be very nice for swing trade on the bullish side.”
“Support for wave two comes in at 0.9620-0.9690.”
Key Quotes
“USDCHF is turning higher, now already well above the upper line of a downward channel which is an important signal that corrective retracement from 1.0129 is finished.”
“Current rise through 0.9755 swing is also confirming a change in trend. As such, more upside is expected in April, especially after a red wave 2) that could be very nice for swing trade on the bullish side.”
“Support for wave two comes in at 0.9620-0.9690.”