USD/CHF - 0.9189

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

Tenkan-Sen level                       :0.9200
Kijun-Sen level                     :0.9221
Ichimoku cloud top                     :0.9190
Ichimoku cloud bottom                 :0.9181

Original strategy : 

Buy at 0.9175, Target: 0.9275, Stop: 0.9140

Position: -
Target:  -
Stop:-

New strategy  :  

Buy at 0.9140, Target: 0.9255, Stop: 0.9105

Position: -
Target:  -
Stop:-

Despite yesterday’s brief breach of resistance at 0.9250, lack of follow through buying and the subsequent sharp retreat suggest consolidation would be seen and near term downside risk remains for weakness to 0.9140-50, however, as long as support at 0.9112 holds, prospect of another rebound remains. A break of said resistance at 0.9263 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, we are still looking to buy dollar on further 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.