USD/CHF – 1.0098
Original strategy :
Buy at 1.0030, Target: 1.0130, Stop: 0.9995
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.0030, Target: 1.0130, Stop: 0.9995
Position : –
Target : –
Stop : –
The greenback has maintained a firm undertone after Friday’s rally, adding credence to our bullish view that recent upmove from 0.9813 is still in progress and upside bias remains for this move to extend further gain to previous resistance at 1.0109, then towards 1.0140-45, however, loss of upward momentum should prevent sharp move beyond another previous resistance at 1.0171, risk from there has increased for a retreat to take place later.
In view of this, would not chase this rise here and would be prudent to buy dollar on pullback as support at 1.0026 should limit downside. Below minor support at 0.9995 would defer and suggest top is possibly formed, risk correction to 0.9960 but support at 0.9948 should hold from here.
