USD/CHF – 1.0130
Original strategy :
Buy at 1.0100, Target: 1.0200, Stop: 1.0070
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.0100, Target: 1.0200, Stop: 1.0070
Position : –
Target : –
Stop : –
As the greenback found good support at 1.0092 and has staged a strong rebound, suggesting low is possibly formed there and consolidation with mild upside bias is seen for gain to 1.0145-50, however, break of resistance at 1.0171 is needed to signal recent erratic rise from 0.9861 low has resumed and extend further gain to 1.0200-10 but near term overbought condition should limit upside to 1.0220-25 and price should falter below previous chart resistance at 1.0248.
In view of this, we are looking to buy dollar on dips as 1.0100 should limit downside and bring such rise. Below support at 1.0073 would abort and signal top has been formed instead, risk weakness to 1.0040-45 but reckon support at 1.0009 would remain intact.
