USDCHF moves in an upward trend, which is indicated by the upward structure of highs and lows that can be seen in the daily chart below. In addition, the price quite well respects levels of support and resistance and the trend line running from the low from February this year. One can, therefore, be tempted to search for opportunities to buy after corrections. Why not from current levels? The reason is simple. Quotations have moved away by more than 150 pips from the 20-day average, so there is a probability of returning to the average, which is currently in the vicinity of the trend line discussed above.

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The problem would also be the sensible placing of a stop loss order. However, if the recent increases are adjusted eg to horizontal support levels close to 0.9650, trend line or 20-day SMA, you can look out for going long opportunities there. The key target for such a scenario may be resistance around 0.9827.

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