USD/CHF – 0.9952
New strategy :
Buy at 0.9910, Target: 1.0005, Stop: 0.9875
Position : –
Target : –
Stop : –
The greenback has staged another strong rebound in European session, suggesting a temporary low has been formed at 0.9859 and consolidation with mild upside bias remains for test of 0.9966-69 resistance, break there would add credence to this view and extend gain to indicated previous resistance at 1.0000-08 but only break there would signal recent decline from 1.0108 top has ended, then headway to 1.0025-30 would follow.
In view of this, we are looking to buy dollar on dips as 0.9900-05 should limit downside. Below 0.9880 would risk test of 0.9859, however, break there is needed to signal recent decline has resumed and extend weakness to support at 0.9831 and possibly towards 0.9800.
