USD/CHF – 0.9649
Most recent candlesticks pattern : N/A
Trend : Sideways
Tenkan-Sen level : 0.9638
Kijun-Sen level : 0.9643
Ichimoku cloud top : 0.9643
Ichimoku cloud bottom : 0.9641
New strategy :
Stand aside
Position : –
Target : –
Stop : –
As the greenback has rebounded again after finding support at 0.9600, retaining our view that further consolidation above support at 0.9583 would take place, however, still reckon resistance at 0.9686 would limit upside and bring another decline, below 0.9600 would bring test of said support at 0.9583 but break there is needed to retain bearishness and signal another leg of decline from 0.9773 is underway for further weakness to 0.9550, then 0.9515-20 which is likely to hold from here.
In view of this, would not chase this fall here and would be prudent to stand aside for now. Above said resistance at 0.9686 would bring test of 0.9699 but only break there would signal the fall from 0.9766 has ended and bring a stronger rebound to 0.9725-30 first.
