For a moment swiss franc was a safe haven for most traders in Europe as there wasn’t any significant news that came out yesterday. More updates on the Deutsche Bank story could impact the franc, although profit-taking could also be in the cards at the end of the month and quarter. Most commodity currencies gave up ground to the euro and the pound as traders sought lower-yielding currencies.
The stochastic is between 50-20 area looking to go up on D1 and H4 just hit the 20 area and looking to turn up before oversold, while H1 is overbought.
A possible retracement on price action is expected, a double bottom is spotted on both H1 and H4 respectively with price action looking to go bullish. If price action retrace and test previous resistance as support, a long position will be considered.