USD/CHF - 1.0650

New strategy  : 

Sell at 1.0790, Target: 1.0630, Stop: 1.0840

Although intra-day recovery after holding above yesterday’s low at 1.0579 suggests further consolidation would be seen and retracement to the Ichimoku cloud bottom (now at 1.0740) and then resistance at 1.0752 cannot be ruled out, but reckon the Ichimoku cloud top (now at 1.0790) would attract renewed buying interest and bring another decline later. Below intra-day support at 1.0586 would extend weakness to 1.0577 (100% projection of 1.1547 to 1.0986 measuring from 1.1138), then 1.0540 but loss of near term downward momentum should prevent sharp fall below 1.0500.

In view of this, we are looking to sell dollar on recovery. Above 1.0817 (previous support) would defer but only break of 1.0856 would signal temporary low is in place, then correction to 1.0903 would follow.