Fundamentally, Swiss Franc is still undervalued and its appreciation course vs various major currencies shall be unstoppable.Structurally, the 0.9900 level is reachable near term in view of the relative recent weakness on both EURO and USD.
Referring to the H4 chart below, Breaking its recent low at 1.0815 shall expose 1.0664.
Technicals on H4 indicate Bearishness and Negatively biased on both H4/ H1 charts.
From the weekly chart, we spot that 1.0605 is the 38.2% Fibo Retr. level.,,below this level will be the next very critical support at 0.9880.
Technicals on Weekly Chart shows Bearishness Near term.
Strategy for trading
SELL Down ON Mild Recovery, near 1.0930 (its intra-day minor resistance)
First Target: 1.0664
Second Target:- Near 1.000 (Please do not over-trade !)
Warning: In view of the possible Intervention from Swiss National Bank to stop its currency appreciation, you must put in a tighter SL ( Stop Loss) and activate the TS( Trailing Stops), and remember do not over trade this cute currency pair.
DO REMEMBER, EVEN A MASTER OR "GURUS" IN FOREX TRADING CAN BE KILLED BY OUR FIERY SNB (SWISS NATIONAL BANK),, BUT SNB CAN ALSO BE TURNED INTO SANTA CLAUS ,, GIVING OUT UNLIMITED FREE MONIES.....!!!!
H4 Chart
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