USD/CHF – 1.0259
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.0235
Kijun-Sen level : 1.0225
Ichimoku cloud top : 1.0188
Ichimoku cloud bottom : 1.0160
New strategy :
Buy at 1.0225, Target: 1.0325, Stop: 1.0190
Position : –
Target : –
Stop : –
The greenback has risen again after finding renewed buying interest at 1.0210, suggesting the rally from 1.0057 (last week’s low) is still in progress and may extend further gain to 1.0290-00 but break of resistance at 1.0322 (last week’s high) is needed to retain bullishness and extend recent upmove to 1.0344 resistance (last month’s high), then towards 1.0390-00 which is likely to hold from here due to near term overbought condition.
In view of this, we are looking to buy dollar on pullback as support at 1.0210 should limit downside. Only below 1.0180-85 support would abort and signal an intra-day top is formed, risk weakness to 1.0160 but still reckon support at 1.0144 would contain weakness.
