The pair continues to consolidate after its sharp rally from last week (1000 pips). There is of course room for an additional setback given the over-extended move.
We might see a continuation of the consolidation going forward but any setback should be well supported by the 0,83 handle (50% fib retracement of the recent rally).
It is obvious that the high volatility on the CHF pairs brings wide price actions so the traders have tio use proper position management rules to deal with such a market while setting the stops and targets.
We hold a bullish bias on the pair over the middle term but we will wait for a better setup to build long positions.
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