USD/CHF - 0.9171

Most recent candlesticks pattern    : N/A
Trend                                    : Near term up

Tenkan-Sen level                       :0.9187
Kijun-Sen level                         :0.9183
Ichimoku cloud top                     :0.9104
Ichimoku cloud bottom                 :0.9071

Original strategy : 

Bought at 0.9155, Target: 0.9260, Stop: 0.9120

New strategy  :  

Hold long entered at 0.9155, Target: 0.9260, Stop: 0.9140

Although the greenback has fallen again after meeting renewed selling at the Tenkan-Sen, as this move from 0.9235 is viewed as retracement of recent upmove, downside should be limited to intra-day support at 0.9152 and bring another rebound. Above 0.9205/10 would bring a retest of 0.9235 but break there is needed to confirm the rise from this month’s low at 0.8853 has resumed and bring a stronger retracement of early downtrend to previous support at 0.9269 but loss of near term upward momentum should limit upside to previous minor resistance at 0.9316.

In view of this, we are holding on to our long position entered at 0.9155. Only below previous resistance at 0.9124 (would signal a temporary top is formed and bring correction to the Ichimoku cloud top (now at 0.9104) but the Ichimoku cloud bottom (now at 0.9071) should hold.