USD/CHF - 0.9246.. Despite dlr's fall from Mon's 5-month peak at 0.9332 to 0.9216 in post-FOMC Wed n then intra-day brief bounce to 0.9273, price re- tested 0.9273 at Asian open on Thur but later retreated to 0.9218 in NY session.

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, last Fri's break of 0.9274 has retained bullishness n would yield gain to 0.9472, then later twd 0.9551. Only below 0.9164 signals top, risks 0.9101.

Today, dlr's n yen's weakness Thur due to return of risk appetite suggests recent upmove has made a temp. top at 0.9332 n as long as 0.9273 res holds, stronger retrace. twd 0.9191 is envisaged, anticipated bullish convergences on hourly indicators would keep price abv 0.9164. Abv 0.9273, 0.9300/05.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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