USDCHF: Bullish extension on the 1D timeframe.

USDCHF is technically bullish on the 1D timeframe (RSI = 60.467, MACD = 0.001, ADX = 44.050) as it has made a Channel Down bottom on December 29th 2023 and has since rebounded over the 1D MA50. Technically it is still halfway through the new bullish wave that should extend over the 1D MA200 at around +8.18% from the bottom. That falls a little under the 0.786 Fibonacci level and that's what we will use as target (TP = 0.9000).

See how our prior idea has worked out:


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