USD/CHF - 1.0524

Original strategy :  

Buy at 1.0440, Target: 1.0560, Stop: 1.0390

New strategy  :  

Buy at 1.0440, Target: 1.0560, Stop: 1.0390

Despite intra-day rebound from 1.0502, as dollar has retreated after failing to penetrate Friday’s high of 1.0564, suggesting further consolidation would be seen and below the Kijun-Sen (now at 1.0486) would bring retracement towards the Ichimoku cloud bottom (now at 1.0444), however, renewed buying interest should emerge around there and bring another rebound later. A sustained break above said resistance would bring a stronger correction of early decline towards 1.0618, however, above there is needed to retain bullishness and extend gain towards 1.0646 but reckon 1.0676-78 (previous resistance and 38.2% Fibonacci retracement of 1.1138 to 1.0394) would cap upside.

In view of this, we are looking to buy dollar on further fall. Only below 1.0394 would abort and extend decline towards 1.0340/50.