USD/CHF – 0.9692
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 0.9699
Kijun-Sen level : 0.9704
Ichimoku cloud top : 0.9739
Ichimoku cloud bottom : 0.9730
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Dollar’s breach of previous support at 0.9695 dampened our bullishness and erratic fall from 0.9771 top may extend weakness to 0.9660, however, as broad outlook remains consolidative, still reckon downside would be limited to 0.9641 support, risk from there is seen for another rise to take place next week.
On the upside, expect recovery to be limited to the upper Kumo (now at 0.9739) and bring another decline. Only a firm break above resistance at 0.9743 would revive bullishness and signal an intra-day low is formed, bring test of 0.9766-71 resistance first. Once this resistance is penetrated, this would confirm recent rise from 0.9613 low has resumed for test of resistance at 0.9808, then towards another previous resistance at 0.9825.
