Wednesday, February 15, 2017

Swiss Franc (update)

We saw buyers come in at the top of my support zone and push prices higher.  We also got some bullish divergence on the RSI, as seen on the 240M chart below.  The minimum upside target, if today's low holds, is the 50%-62% retracement zone ~ 1.0002 to 1.0055.  There's a high concentration of volume @ price at the bottom of that range that could serve as both a magnet and resistance.  If we get through it, then there's a good chance we could make a new swing high. Finally, the initial support zone is still intact as well if prices make new lows in the next day or two.


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