USDCHF: Prefer to buy dips
|USDCHF: 0.9781
Preferred Strategy: US$Chf has been choppy again on Tuesday, briefly taking out 0.9800 but unable to hold on to the gains and is now pretty much back where it started. While the hourlies are a little heavy, the 4 hour charts look constructive ho holding on to longs is favoured looking for a retest of the highs and perhaps 0.9835-50 although in the absence of any major data it may end up being another tight session. Support now seen at around 0.9740/50.
Buy US$Chf @ 0.9750. SL @ 0.9690, TP @ 0.9850.
| 24 Hour: Prefer to buy dips | Medium Term: Mildly Bullish | ||
| Resistance | Support | ||
| 0.9900 | Minor | 0.9729 | 16 Oct low |
| 0.9880 | (50% pivot of 1.0343/0.9420) | 0.9715 | Minor |
| 0.9850 | 200 WMA | 0.9705 | 14 Oct low |
| 0.9835 | 200 DMA/(61.8% of 1.0099/0.9420) /6 Oct high | 0.9676 | 2 Oct low /(38.2% of 0.9420/0.9836) |
| 0.9807 | Session high | 0.9642 | 25 Sept low |
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