USD/CHF – 0.9469
Original strategy :
Sell at 0.9555, target: 0.9455, Stop: 0.9590
Position : –
Target :Â –
Stop : –
New strategy :
Sell at 0.9555, target: 0.9455, Stop: 0.9590
Position : –
Target :Â –
Stop : –
As the greenback has remained under pressure after recent selloff, bearishness is seen for the decline from 1.0340 top to resume after consolidation, whilst initial corrective bounce to 0.9500 and then 0.9520-25 cannot be ruled out, reckon the upper Kumo (now at 0.9530) would limit upside and bring another decline later, below support at 0.9438 would extend recent decline to 0.9405-10 but loss of momentum should limit downside to 0.9375-80, price should stay above 0.9350, risk from there is seen for a rebound later.
In view of this, we are looking to sell dollar on subsequent recovery as 0.9550-55 should limit upside and bring another decline. Above 0.9580-85 would suggest a temporary low is formed instead, bring a stronger rebound towards resistance at 0.9622 which is likely to hold from here.
