FX.co ★ USD/CHF right on major support, prepare to buy

The price has dropped further and is now testing major support at 0.9440 (Fibonacci extension, the lowest point in past 2 years) and we expect to see a bounce above this level to at least 0.9491 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is bouncing nicely above our support at 3.6%.

Buy above 0.9440. Stop loss is at 0.9419. Take profit is at 0.9491.