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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/CHF right on major support, time to start buying

The price is right on major support at 0.9672 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a major bounce above this level to push the price up to at least 0.9758 resistance (Fibonacci extension, horizontal swing high resistance).

RSI (34) sees major support above 42% where we continue to holds our bullish bias as long as it remains above the support.

Buy above 0.9672. Stop loss is at 0.9627. Take profit is at 0.9758.

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The material has been provided by InstaForex Company - www.instaforex.com