After Wednesday`s impulsive rally in USD/CHF we see a sideways correction within a bullish flag pattern. From a technical perspective this pattern should be resolved to the upside. The middle Bollinger band at 0.9287 should provide sufficient support for any short term weakness. As long as USD/CHF trades above 0.9200 we keep a bullish bias on the pair and expect another leg up towards the 0.9370:0.9400 area. A buy trigger could be the breakout to the upside out of the flag pattern.
IMOH, Clement I.
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