Commentary: The longer term outlook for higher prices is intact, although the USDCHF may endure a period of softness following the rejection at the 200 day SMA. Potential support is at the confluence of the 61.8% of 1.2124-1.2230 / channel support near 1.2203.
Former resistance at 1.2221 could act as support also. In fact, the decline from 1.2329 would equal the 1.2329-1.2239 decline at 1.2222. This intersects with channel support early next week. High reward/risk bullish opportunities come to the forefront at channel support. Strategy: Establishing bullish position between 1.2200 and 1.2230, against 1.2124, targeting new highs (above 1.2329)