FxWirePro: USD/CHF recovers from 5-week lows, prices starting to look oversold on dailies

CHF bulls under control amidst ongoing risk-aversion, Swiss franc rises to 5-week highs on safe-haven appeal

• USD/CHF downtrend has taken out 200-DMA, 61.8% Fibo of 0.9152-0.9903 advance at 0.9439 and late July lows to end the previous week
• The pair is currently trading at 0.9433, recovers from 5-week lows, prices starting to get oversold on dailies, Stochs show a bullish crossover 
• Price action has been rejected at lows, pair has bounced off could at, we see possibility for a modest counter trade
• Next resistance is located at 0.9479 (Today's High) above which it could extend gains 0.9500 levels, while support is seen at at 0.9329 (July 10 Low) levels

Recommendation: Buy dips around 0.9420/25, SL: 0.9360 (Daily Low Jul 14), TP: 0.9480