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RSI is indicating overbought conditions and price is approaching the R1 level of 1.3189. Possible pull back to the PP level of 1.3084 area before upward trend continuation on the 4 hour chart.
1
Short-term buy order up until the upper channel, then short sell the pair when upper portion of channel is tested and continuation of downtrend is confirmed
1
Pullback at resistance is likely, possibly continuing uptrend after pull-back and trendline bounce.
1
Shorting USD/CHF is likely in the short-term as price action encountered strong resistance at the 1.01 area. RSI shows slightly overbought, while MACD is indicating strong buying pressure. Some pullback is warranted in the short-term, while long-term looks bullish.
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