USD/CHF - 0.9277.. Dlr found renewed buying at 0.9191 (AUS) Thur n rose steadily on active buying in eur/chf cross. Price jumped in NY morning after a surprise sharp rise in US retail sales n later hit a 5-month peak of 0.9277.

On the bigger picture, dlr's impressive rise fm Jan's near 6-year bottom at 0.8758 to as high as 0.9472 on the 1st day of Apr due to rally in U.S. yields suggests erratic fall fm 1.0344 (2016 peak) to retrace LT rise fm 2015 record low at 0.7360 has possibly ended n price is en route twd 0.9551 (50% r). Having said that, dlr's decline to a 3-1/2 month 0.8927 low in early Jun due to broad- based usd's weakness signals upmove fm 0.8758 has made a top. Despite dlr's rally to 0.9274 (Jul), dlr's drop to 0.9019 in Aug on chf buying signals temporary top is made, subsequent strong bounce to 0.9271 on Thur has retained bullishness n abv 0.9274 would encourage for gain to 0.9472, then later twd 0.9375.

Today, dlr's intra-day pullback fm 0.9280 (AUS) would bring minor range trading b4 MT uptrend heads twd 0.9326, however, o/bot readings on hourly oscillators should cap price below res 0.9375. On the downside, only a daily close below 0.9242 signals temporary top is made n may risk retracement twd 0.9205 Monday.

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AceTrader Team

AceTrader

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