USD/CHF: no pullback?

The USDCHF is caught rangebound in the 0.9615-0.9710 bracket without any decent pullback since the break of the bearish trend from early December. The first target (measured move) from the trendline break is just a few pips above the current range. An upside breakout from the recent range would be a buy signal considering Friday’s inside bar. I think it is early to trade against the strong Swiss bulls therefore I wait for a breakout pullback setup at the 0.9725 level.

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