USDCHF – Although USDCHF posted mild losses in early European trading investors bought this dip resulting in the pair breaking the trend of lower daily highs (.9900-.9810).
Our 2nd target of .9781, 3rd August Marabuzo, held well as resistance and levels above here were rejected. However, this mild pullback is seen a retest of the trend (breakout) with the bias still being bullish. This has resulted in us still backing the bulls and we call a Bullish Bias above .9755
The profit targets are .9810, last week’s peak, then .9829 and towards .9900
The risk however would be with selling through a stop of .9755, the overnight low