USD/CHF - 0.9232

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

Tenkan-Sen level                       :0.9238
Kijun-Sen level                     :0.9196
Ichimoku cloud top                     :0.9167
Ichimoku cloud bottom                 :0.9165

Original strategy : 

Buy at 0.9175, Target: 0.9275, Stop: 0.9140

Position: -
Target:  -
Stop:-

New strategy  :  

Buy at 0.9175, Target: 0.9275, Stop: 0.9140

Position: -
Target:  -
Stop:-

Although dollar’s intra-day breach of resistance at 0.9250 signals another leg of correction from 0.9112 low is underway, lack of follow through buying and intra-day retreat from 0.9263 suggest consolidation would be seen and pullback to the Kijun-Sen (now at 0.9196) cannot be ruled out, however, the Ichimoku cloud (now at 0.9165-67) should limit downside, bring another rise later. A break of said resistance would add credence to our bullish view for a stronger retracement of recent fall from 0.9575 to 0.9280, then 0.9300 but price should falter well below resistance at 0.9340.

In view of this, buy are still looking to buy dollar on pullback. Only below support at 0.9112 would abort and signal recent decline from 0.9595 top has resumed and extend weakness to 0.9080, however, reckon 0.9040 would limit downside and 0.9015-20 (50% projection of 0.9575-0.9112 measuring from 0.9250) would hold, bring another rebound later.