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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 testing key support, time to start buying

The price is testing major support at 0.9553 (Fibonacci extension, Fibonacci retracement, bullish price action) and we expect a bounce above this level for a push up to at least 0.9653 resistance (Fibonacci extension, horizontal swing high resistance, price gap).

Stochastic (34,5,3) is seeing strong support above 3.8% where we expect a bounce from.

Buy above 0.9553. Stop loss is at 0.9518. Take profit is at 0.9653.

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