USD/CHF Weekly Outlook - Action Forex: "In the bigger picture, the correction pattern from 0.9971 is still in progress and should now target 50% retracement of 0.7065 to 0.9971 at 0.8518 and below. We'd start to look for reversal signal below 0.8518 again. But before that, outlook will stay bearish as long as 0.9156 resistance holds even in case of strong rebound.
In the longer term picture, we'd maintain that price actions from 0.9971 are corrective in nature. That is, the up trend from 0.7065 should resume after finishing the correction. And, note that break of 0.9971 will also have 55 months EMA firmly taken out and would be a strong indication of completion of the down trend from 1.8305 (2000 high)."
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