USDCHF – buy on dips
USDCHF is trading above the 20-day SMA and has been trading in a higher top higher bottom formation since the last few months indicating the trend to be bullish in the near term, further it currently is at the upward sloping trend line advocating for a rise. The current dip looks to be a correction which is likely to find buyers near 0.9380-0.9340 zone indicating a rebound in the offing. It would be prudent to say that USDCHF could advance towards 0.9410 and 0.9450 while it sustains above 0.9330.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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