USD/CHF – 0.9673
Original strategy :
Buy at 0.9600, Target: 0.9700, Stop: 0.9565
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9600, Target: 0.9700, Stop: 0.9565
Position : –
Target : –
Stop : –
As the greenback has maintained a firm undertone after staging a strong rebound from 0.9552 (last week’s low), retaining our view that a temporary low has been formed there and consolidation with mild upside bias is seen for this move to bring retracement of recent decline, hence gain to 0.9690-00 is likely, however, reckon upside would be limited and price should falter below resistance area at 0.9738-43, bring retreat later.
In view of this, would not chase this rise here and we are looking to buy dollar on pullback as 0.9600 should limit downside and bring another rise later. Below 0.9565-70 would abort and signal intra-day top is formed, risk retest of 0.9552 first.
