USD/CHF – 0.9951
Original strategy :
Buy at 0.9840, Target: 0.9940, Stop: 0.9805
Position : –
Target :Â –
Stop : –
New strategy :
Buy at 0.9900, Target: 1.0000, Stop: 0.9865
Position : –
Target :Â –
Stop : –
As the greenback has surged again after finding renewed buying interest at 0.9869, adding credence to our bullish view that recent rise from 0.9421 low is still in progress and may extend further gain to 0.9970, having said that, overbought condition should limit upside to psychological resistance at 1.0000 and reckon 1.0030-40 would hold, bring retreat later.
In view of this, we are looking to buy dollar again on pullback as 0.9900-05 should limit downside and bring another rise later. Below said support at 0.9869 would abort and suggest a temporary top is formed instead, bring correction of recent rise to another previous support at 0.9838.
